The Nexus is a cross-dimensional gateway which provides a pathway to any and all possible realities, this includes realities between realities. It is unknown whether it was created by some being or just if it's the one place in the entire multiverse where all realities naturally intersect.
According to Magik and Dr. Ted Sallis the Nexus was created when his car crash mixed his blood with the interdimensional magic he had bargained with the Devil for in order to make his SO-2 Serum work.
In Earth-928, one possible future in year 2099, Jordan Boone of Alchemax, worked on his project of Virtual Unreality. It was later revealed that the combination of this project with the Cyberspace managed somehow to project Doom and Wire into the Nexus of All Realities, where Doom was encouraged by former conquerors to assemble an army of every time to conquer Earth.
Taskmaster found the dead remains of Doctor Strange and Wong and realized that Dreadpool meant to find and destroy the Nexus of All Realities. Taskmaster finally tracked him down to the swamp of the Man-Thing and engaged him in battle. During their battle, Taskmaster began to mimic Dreadpool's moves and while doing so, even began to hear Dreadpool's inner voice. He realized the truth, which frightened him and that fear caused the Man-Thing to incinerate him. Dreadpool next destroyed the Man-Thing in order to travel the Nexus of All Realities.
In Earth-58460, Man-Thing's Swamp is in Bywater, New Orleans. The ancestors of the local Native Americans referred to an area within the swamp now known as "the Dark Water" as the Nexus of All Realities. When the land is disturbed by Schist Petroleum, its most powerful guardian spirit possesses and reconfigures the corpse of Frederic Schist's victim Ted Sallis, creating Man-Thing. Man-Thing goes on a rampage, killing dozens of people, until it is pacified by the destruction of the oil rig situated in the Dark Water.
After the death of He Who Remains, Uatu resided in the Nexus of All Realities where he observed the alternate universes that were offshoots of the Sacred Timeline that were created when different decisions were made. Uatu observed the various universes including Captain Carter's universe, Star-Lord's (T'Challa) universe, the destroyed universe of Doctor Strange Supreme, the universe that was infected by a Quantum Virus, among many more.
The Watcher also observed a universe where Ultron won after succeeding to transfer his consciousness into his new synthetic body, after killing Thanos and obtaining the Infinity Stones where he began to end all life in the universe, he could also feel the presence of Uatu and what caused Watcher to flee and Ultron gain access to all possible realities. Then Watcher gathered several people who had seen his stories to create the Guardians of the Multiverse who managed to defeat Ultron.
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