The kingdom of Bugundy is ruled by King Gunther and his sister Kriemhild. Siegfried of Xanten wants to meet Kriemhild and on his journey gains a magical sword and cloak that make him invulnerable. He helps Gunther win Brunhild for marriage in exchange for marrying Kriemhild. Years later a quarrel between the wives leads Hagen to seek revenge on Siegfried, who he tricks and kills. Kriemhild vows revenge and later invites her brothers to her new home, leading to a bloody massacre where she kills Gunther to learn where Hagen threw Siegfried's treasure.