The film tells the story of the Viking Age and a young woman named Skuld (Leona Shvetsova). she possesses magical abilities and the power to foresee and influence the future using the threads of fate. In a Viking settlement, while working at the forge, a blacksmith named Olaf sees a flash of lightning, followed by the roar of thunder and the cry of a child. Taking a torch, he ventures into the forest, where he finds a cradle containing a baby girl. Inside the cradle, a glowing ball of yarn lies beside a tablet inscribed with the name "Skuld." Hearing the howling of wolves nearby, Olaf decides to take the child and raise her as his own daughter.

Olaf trains Skuld in the use of shield and sword so that she can protect herself and the village in the event of an attack. As time passes, the young Skuld grows up, spending her days captivated by weaving the threads of fate. However, she remains an outsider among her peers; the local children do not accept her and subject her to constant bullying.

During a teenage quarrel, one of the boys tries to cast her out, but another youth named Vigge, a future longship builder, stands up for Skuld. In the heat of the confrontation, Skuld unconsciously fashions a figurine of the bully and snaps a thread—the boy falls to one knee. She pulls a second thread, and he falls to the other. It is then that Skuld realizes she possesses magical power.

Over time, the friendship between Vigge and Skuld deepens. One day, Vigge shares his dreams with her: that one day their people will sail across the sea to find fertile and wealthy lands. He reveals his plan to build the first ship capable of conquering all seas, naming it the Drakkar.

One day, word reaches them that the army of Eric the Terrible is advancing toward their village, burning and plundering everything in its path. Skuld asks the elder, Urd, for a description of the invaders' leader. Armed with this knowledge, she weaves a small doll resembling the warrior, falls into a trance, and casts it into the fire before the eyes of the entire village.

On the other side of the island, where Eric’s detachment has landed, their leader suddenly bursts into flames and perishes. The entire village witnesses Skuld losing consciousness. Later, the people learn that Eric the Terrible was killed by magic.

Terrified by this miracle, the invaders dare not advance further. The fame of the girl who stopped the invasion spreads from island to island. Eventually, the powerful Konung Knud, who had sent Eric to pillage these lands, hears of Skuld. He orders his berserkers to bring the girl to him, but none of them return alive.

Then, Konung Knud decides to send an Úlfhéðnar — the wolf-headed Ulf the Terrible (Ragday Oleksandr Tymofieiev), a legendary and fearless warrior, tracker, and hunter whose very name strikes panic into the hearts of the finest fighters. But the threads of the Norns and the will of the gods remain hidden from mere mortals…