I AM NO MAN BROTHER! I AM THOR! I AM THUNDER!! Asgard is mine to protect until the day of doom -- and that day is not yet!! 
- —Thor
Appearing in "What If Loki Found Thor's Hammer First?"
Featured Characters:
Supporting Characters:
- Asgardians
- Hela
- Don Blake (First appearance; dies)
Antagonists:
- Loki
- Frost Giants
- Rock Trolls
- Kronans (Earth-616) (Only in recap)
Other Characters:
- Uatu the Watcher
- Kronans (First appearance; dies)
- Korg (First appearance; dies)
- Valkyrior
- Midgard Serpent
- Hugin and Munin
- Neri (Earth-616) (Only in recap)
- Heimdall (Earth-616) (Only in recap)
- Loki (Earth-616) (Only in recap)
- Thor (Earth-616) (Only in recap)
Locations:
- Earth-841047
- Earth-616 (Only in recap)
Items:
Synopsis for "What If Loki Found Thor's Hammer First?"
The Watcher revisits the events that led to the freeing of Loki after having been imprisoned in a tree by Odin[1] and the discovery of Mjolnir by Donald Blake and his return to his true persona of Thor.[2]
In an alternate reality, Loki is freed sooner and uses his powers to visualize the locations of Thor and Mjolnir and discovers the lame Donald Blake and the stick he is meant to find during his trip to Norway. Loki takes the stick and tosses it far beyond the cave so that Blake cannot find it during his attempt to hide from the Kronans. Blake is unable to escape the cave or turn into Thor and is subsequently killed by the Kronans and Odin becomes distraught at the realization of his favored son’s death. Odin gathers a group of warriors to go with him in a quest to beseech Hela to return his son but Balder and the Warriors Three feel that Odin’s methods are unsavory and choose not to participate. When Odin asks Hela for his son and offers fair return, Hela slaps slaps his hand away and triggers his band of warriors to attack Hela and her defenders.
Back in Asgard, Balder is assassinated by a disguised Loki, a precursor to Ragnarok, which forces an Asgardian to send notice to Odin. Meanwhile, various antagonists across the realms begin to awaken in preparation for war. Balder has meanwhile arrived in Valhalla and reminds Thor of his identity. Thor feels compelled to return to the land of the living and fights with Balder against Hela and her forces who seek to keep him in place.
Meanwhile, Heimdall and the Warriors Three seek to find the long lost Mjolnir on Midgard. The find Loki riding an orange dragon blocking their path to the stick that holds the enchantment of Mjolnir and battle with them. They manage to kill the dragon and find the stick as they teleport back to Asgard where they find the city in flame. They bring the stick to Odin and summon the hammer. Odin seeks to take the hammer to Thor so that he can lead the armies of Asgard and offer Hela his own life in return but Sif intervenes and offers to take it herself. Sif frees Thor from Hela and she allows Balder to go as well saying his debt has been paid. Thor returns and helps the Asgardians defeat the invading forces. He approaches his father and suggests he has leaned his lesson. He asks Odin how Balder was also freed and Odin reveals the loss of one of his eyes.