Dire Fleet Interloper

If no card is revealed, most likely because that player's library is empty, the exploring creature receives a +1/+1 counter.

If an ability instructs a creature to explore, its controller reveals the top card of their library. If it's a land card, they'll put it into their hand. Otherwise, they'll put a +1/+1 counter on that creature, then choose to either leave that card on top of their library or put it into their graveyard.

In some unusual cases, noncreature permanents may explore. For example, if the creature card returned by Defossilize is somehow not a creature once it's on the battlefield, it can still explore. You'll take all the same actions, and you may end up putting a +1/+1 counter on the permanent. (Note that some effects target a creature, and those effects would still require a legal target to have it explore.)