In the first half of the first century A.D., the Teutonic tribes, led by Arminius The Terrible, rebel against the cruel and conquering Roman Empire. In raging torments and blood curdling battles, the barbarian tribes and Roman Legions fight a war of attrition, so brutal and terrible that Arminius becomes a legend throughout the empire. Only Augustus, Emperor of Rome is evil and treacherous enough to enslave the Teuton barbarian and halt his murderous uprisings.

Siegfried of Xanten snatches the Nibelung treasure from the king of the underworld and slays the dragon Fafnir, whose blood makes him invulnerable. Siegfried falls in love with Kriemhild, the sister of the Burgundian king. But only if Siegfried helps Gunther marry Brunhild will he be allowed to marry Kriemhild. He fulfills this condition, but the two women bring ruin upon Xanten and Burgundy...