Malekith stared at Loki, whose skin had reverted to its pale tone, his mind reeling. He could see now that Loki was not Asgardian, but a Frost Giant. Yet he claimed to be the son of Odin, King of Asgard.
What was the meaning of this? Was the man deceiving himself? Or had the Queen of Asgard been unfaithful to her king?
Preposterous, Malekith thought, the idea too absurd to entertain. Surely the God-King of Asgard would recognize his own child. The look he gave Loki sharpened, his suspicion hardening into a dangerous edge, ready to command Kurse to extinguish this confusing creature's life.
But Loki remained unnervingly calm. All of this was within his calculations.
"I was raised by Odin, but I am not his biological son," Loki explained smoothly. "My true father is Laufey, King of the Frost Giants. Thousands of years ago, after he suppressed Jotunheim, Odin found me as an infant and brought me to Asgard."
The expression on Malekith's face finally shifted from confusion to intrigue.
"How interesting. Bor's son took in the child of the Frost Giant King," he mused aloud. "Does this mean the giants of Jotunheim have finally bent the knee to Asgard?"
Though Asgard claimed dominion over the Nine Realms, the relationships between the kingdoms were delicate and fraught with ancient rivalries. Aside from the Vanir, the Light Elves, and the Dwarves, the other realms were hardly obedient. For millennia, the giants, the fire demons, and his own Dark Elves had chafed under Asgard's rule, each plotting to overthrow the golden realm and claim supremacy. But if Odin had broken that fragile balance by adopting the prince of his enemies…
If Asgard and Jotunheim are now allies, Malekith thought, then I must be far more cautious. The giants were formidable warriors; a handful of his cursed wizards would not be enough to stand against them.
"He certainly wishes they were," Loki sneered, his tone dripping with disdain for Odin's grand designs. "The old fool wanted me to be a bridge of peace between our realms. He intended to make me King of Jotunheim." As he spoke, Loki's voice grew louder, his expression twisting into a mask of rage. "I refuse to go to that frozen wasteland and rule over a horde of barbarians who can't even clothe themselves!"
At some point, Malekith had released Loki's throat, and now he watched with detached interest as the prince paced before him, cursing Odin with a raw, theatrical fury. Loki was a master of histrionics, playing the role of the jealous, powerless second son to perfection. Perhaps it wasn't entirely an act; this was, after all, who he used to be.
"He thinks I will simply follow his arrangements?" Loki spat, his skin now flushed with anger. "In his eyes, I am nothing but a tool to maintain his grip on the Nine Realms!"
"I am his superior in every way!" he roared. "But he favors his own witless son! He intends to hand Asgard to that oaf, even after the fool lost his divine power and became less than a mortal! Still, he is the destined king!"
He was seething, his anger palpable. He stopped pacing and turned to face Malekith, the fury on his face instantly replaced by naked ambition. Loki took a step forward, inclining his body in a gesture of utter submission.
"I will pledge my loyalty to you," he declared. "I will help you conquer the Nine Realms."
"And you? What is it you seek from me?" Malekith asked, a flicker of interest in his cold eyes.
According to Loki's tale, the boy held a high station in Asgard. If he became King of Jotunheim as well, he would command an entire realm. As an inside agent, his value in conquering Asgard and retrieving the Aether would be immense. But Malekith was ancient, not naive. There was no loyalty without motive.
"I want Asgard," Loki answered without hesitation. "You may rule the Nine Realms, but I claim Asgard as my own. I imagine you will need a viceroy to help you manage your new empire."
The proposal was acceptable to Malekith; it was a simple matter of installing Loki as a puppet king. But before he could agree, the other outsider spoke.
"You lie, Loki."
Psyphon did not know the specifics of Loki's plan, but he knew one thing for certain: Loki was allied with the Plumbers, which made him an enemy of Vilgax. As he spoke, both Malekith's and Loki's gazes fell upon him.
Loki had been studying the fin-headed creature since he arrived. Svartalfheim had been empty for five thousand years, yet on the very day of Malekith's revival, two separate visitors appeared. It was too coincidental. This one could be connected to the intruder Heimdall saw on Jotunheim, Loki mused.
Malekith remained unconcerned. Svartalfheim was his fortress, a place where his power was so immense that even Bor could only seal him, not kill him. He would let these two visitors play their hands.
"I am here on behalf of my master," Psyphon said, carefully omitting Vilgax's name. He pointed a long, accusatory finger at Loki. "Loki Odinson, you deceive the great king of the Dark Elves. You have already sworn fealty to the Plumbers. How could you betray Ben Parker, the self-proclaimed King of Sakaar?"
Malekith frowned, the name meaning nothing to him. But the implication was clear. If this creature spoke the truth, Loki could not be trusted. He narrowed his eyes, waiting for an explanation.
Loki's own eyes narrowed. This creature was surprisingly well-informed. Though Loki was a high-ranking Magistratus in the Plumbers, he rarely made public appearances. This person, whoever he was, had a deep and hostile knowledge of their organization. He would deal with that later. First, he had to survive Malekith.
"Since you know my past," Loki began smoothly, "then you must also know that I was exiled to Sakaar precisely because I attempted to seize the throne of Asgard, after trying to murder both Odin and my brother, Thor."
He knew exactly how to pique the old king's curiosity. For a being sealed away for five thousand years, gossip about the Asgardian royal family's dysfunction would be irresistible. Malekith glanced at Psyphon, seeking confirmation. Psyphon, having studied Thanos's intel, knew this part of Loki's story was true.
"But you are loyal to the Plumbers," Psyphon insisted. "Even Thanos, the former overlord of the universe, could not break your will. I do not believe you would betray them." He thought he was laying a clever trap. He then added, with dripping sarcasm, "Do not think I am unaware that your greatest strength, Loki Odinson, is loyalty. Not even the influence of the Mind Stone could make you fully betray them."
Loki froze, genuinely dumbfounded. Can you repeat that? he thought, completely bewildered. It was the first time in his long, treacherous life that anyone had ever accused him of being loyal.
This, however, did not stop him from taking advantage of the absurd accusation. He would simply "betray" the Plumbers as well.
"I did work for the Plumbers," Loki admitted, his face contorting with rage. "But that was in the past. I helped that upstart Ben Parker because I had no other choice! I was stranded on Sakaar with no one to rely on. He promised to help me seize the throne of Asgard, but he deceived me!"
"But from what I know, Odin did hold a coronation for you," Psyphon countered. "And it was you who gave up the throne."
"And you believe that, do you?" Loki sneered, seeing the doubt in Psyphon's eyes. "Do you really think that was a genuine ceremony? It was a complete sham! A trick to absolve him of his promise! After everything I did—the rebellion, the attempt on his life—do you truly believe I would simply give up the throne if it were genuinely offered?!"
Psyphon faltered. Loki was right. It was completely irrational. From that perspective, it was far more likely that the coronation was a fake, a public spectacle designed to humiliate Loki while letting Odin appear magnanimous. No wonder the man was now kneeling before Malekith, willing to become his dog. Psyphon almost felt a sliver of sympathy for him.
Malekith was convinced. At this point, he trusted Loki eighty percent. The remaining twenty was merely the caution that a being of such ambition required.
But Loki felt his performance was not yet complete. Since he was already betraying the Plumbers, he might as well be thorough.
"I gave so much for that organization!" he seethed. "I did so much for that Ben Parker! I was a slave on Sakaar, they pierced my shoulder blades with chains, and for what? He deceived me, working with Odin to treat me like a clown! And not only that," Loki's voice dropped, filled with a chilling hatred, "he invaded Jotunheim and destroyed the world that was my birthright! He killed my father with his own hands!"
Malekith was momentarily stunned. He didn't care about Laufey, but the destruction of an entire realm?
"Honestly, I do not care about Laufey's life or death, nor do I care for Jotunheim," Loki spat, his eyes flashing with a desperate, burning light. "All I want is Asgard! All I want is to take back what is mine and make those who have mocked me pay the ultimate price!"
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