Raised by Eyvind (Max von Sydow), Prince Siegfried (Benno Fürmann) slays a dragon, claiming its gold, which is cursed by the mystic Nibelungs, and falls for Brunhild (Kristanna Løken), the Valkyrie Queen. Siegfried entrusts the treasure to the King, whose advisor Hagen (Julian Sands) steals it with black magic, making Siegfried turn his devotions to Princess Kriemhild (Alicia Witt), as the curse spins a web of betrayal, deception and greed.