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After Siegfried (Paul Richter), a nearly invulnerable warrior prince, hears of the beauty of Princess Kriemhild (Margarethe Schon), he travels to Burgundy to meet her. To impress her brother, King Gunther (Hanna Ralph), Siegfried ventures to Iceland with him, where he helps Gunther win over Brunhild (Theodor Loos). The appreciative Gunther approves of Siegfried's marriage to Kriemhild. However, hungry for more power, Brunhild spreads lies about Siegfried, leading to a fateful clash.