A brand new trailer dropped for the upcoming Loki Disney+ series, which elaborated on the plight of the 'variant' Loki who developed from the events of Avengers: Endgame. While the new trailer is full of Easter Eggs, it's also the source of many new theories by fans on what might be happening.
Some of these range from the plausible to the grandiose, but all of them spin out of the tantalizing possibilities offered by the trailer. Many of these theories hinge on the premise that numerous different timelines were created in Avengers: Endgame, a problem that may plague the MCU well into Phase 4.
Loki Won In Avengers
User cbekel3618 suggests a timeline in which Loki won in 2012's Avengers. In the very first Avengers movie, Loki was the primary villain. There, he led an invasion of Earth by the alien Chitauri. His efforts were foiled by the Avengers, but a cryptic shot in the new trailer has fans wondering.
This shot of a devastated New York City, with the ruined Stark Tower prominent in the background, hints at a timeline in which Loki and the Chitauri were successful in their violent campaign to take over the world.
Loki Uses Magic
Loki is seen fighting with his hands and some swords in the new trailer. User No-Dog7085 suggests Loki also uses magic. In a fight with what appear to be officers from the Time Variance Authority, the time police of the Marvel Universe, Loki fires green energy at them.
This appears to be a manifestation of Loki's inherent Asgardian magic. He hasn't used it a ton in the MCU, but Loki is one of the most powerful magicians in Marvel Comics and even served as Sorcerer Supreme for a brief stint, forming an unlikely friendship with Spider-Man.
Asgard Destroyed By The Power Stone
In the trailer, there are a few shots of Loki walking through a darkened hallway, with the floor, ceiling, and doors cracked by glowing purple energy. User MulciberTenebras believes that's Asgard, destroyed by the Power Stone. The Power Stone creates these kinds of glowing cracks in people and things whenever it's held, as seen in the first Guardians Of The Galaxy movie.
If so, this could be another alternate timeline in which Asgard has fallen victim to Thanos or perhaps Ronan The Accuser, who managed to acquire it in the movie.
Kang Is The Villain
MulciberTenebras also suggests that Kang The Conqueror is the villain of the series. While fan theories on the big bads of the MCU series can get wild, like with Mephisto in WandaVision, this theory has some plausibility. Kang The Conqueror is a time traveler, which folds in nicely with the story of the series.
He is also appearing in the MCU in the upcoming Ant-Man And The Wasp: Quantummania. Most importantly, Gugu Mbatha-Raw is playing Judge Renslayer. This character in the comics is the sometimes lover of Kang The Conqueror and is better known as Ravonna.
Agent Of Asgard
User yarkcir suggests the series is based on the Agent Of Asgard comic. This 2014 comic book series by writer Al Ewing and artist Jenny Frison provided a bold new take on the classic character, who was created by the legendary comic book team of Stan Lee and Jack Kirby. The series has Loki functioning as something of an undercover agent for Asgard.
Throughout the series, different realities and timelines unfold, and different versions of the character emerge like King Loki and Kid Loki, who became a member of the Young Avengers, a team that MCU is building to with the introduction of several characters like Tommy and Billy from WandaVision and Kate Bishop in Hawkeye.
Is That Black Widow?
User astraeos118 wonders if the woman in the trailer seen sitting with Loki is Black Widow. She certainly appears to be from the back. The woman has red hair and is wearing an all-black costume evocative of Natasha Romanoff's basic outfit. It's unclear and is deliberately vague in the trailer.
She is sitting in a desolate setting shrouded in purple light, perhaps the same consuming Asgard, though in the background the moon is visible, and has been shattered into thousands of pieces that are raining down on Earth.
Or Lady Loki?
User PontiacBandit7 thinks the mysterious woman is Lady Loki. There could be something to that as the woman in the trailer seems to be wearing a sword and Natasha never used them in the MCU. Lady Loki, the female version of Loki, who is simply the shapeshifter Loki in a new form, does.
She first appeared in 2008 in the Thor comics at the time as well as playing a big role in the crossover event Dark Reign. If versions like Kid and King Loki appear in the series, it makes sense that Lady Loki would as well.
Loki Will Grow By Seeing His Past Lives
User Gaius-Octavianus thinks this version of Loki will grow by seeing his other lives. All the timelines appearing in the show might get confusing, especially with respect to 'which' Loki this is. This Loki is not the first one MCU fans met, but the one from Avengers: Endgame who stole the Tesseract in the alternate version of 2012's Battle Of New York.
As such, he didn't experience anything his MCU counterpart did after. He never reconciled with his brother or died at the hands of Thanos trying to save the remaining Asgardians. He essentially has defaulted to his factory settings.
A Version Of Brazil
User schattenteufel thinks the series will be a take on Terry Gilliam's Brazil, along with the '80s time-traveling comedy Time Bandits. The parallels are clear, especially in the scene in which Loki is asked to sign a giant stack of papers representing the entirety of everything he has ever said.
This absurd bureaucratic world of the Time Variance Authority shares some spirit at least with Brazil. The 1985 film takes place in a strange dystopian future overwhelmed by bureaucracy.
This Loki Becomes The MCU Loki
User Nabs2099 thinks this alternate version of Loki eventually becomes the main Loki. While the primary Loki in the MCU has died, this version is running around loose in time. It's possible he never intersects with the primary MCU timeline again, but knowing that Loki leads into Doctor Strange In The Multiverse Of Madness in some way, that's unlikely.
It's possible that this variant Loki returns to the MCU proper and takes the place of his dead predecessor, allowing the character to continue into the future of the franchise.