Loki, living in the Ultraverse and owning the six Infinity Gems, is defied by the Grandmaster to play a game. If the Grandmaster wins, he would get the Mind gem that he formerly had. If Loki wins, the Grandmaster would reveal him the location of a 7º gem. They arrange a number of "Let's You and Him Fight" clashes between the Avengers and Ultraforce, and Loki won. The grandmaster introduced the 7º gem: Sersi. United with the others, the 7º gem left Sersi and became a living being with the others, Nemesis. Nemesis then erased all existence, to begin it again.
The new universe has composite versions of the characters from Marvel and Ultraverse, and a new Avengers origin story. When Topaz attacked Loki, all of it became a mess, and countless alternative Avengers and Ultras stated appearing to attack Nemesis. The Black Knight managed to defeat her with the Ebony sword, and the universes were restored.
- A Glitch in the Matrix: Topaz asked Loki the reason for all the butchering. He replied with a sad face "because I know what this world really is".
- And This Is for...: Quicksilver gave one to Loki "for you, Janet" (who was well and next to him).
- Composite Character: The new universe created by Nemesis is filled with those. In many cases, however, it's a known character with traits from some other character
- Hulk is Hulk + Ghoul
- Iron Man is Iron Man + Prototype
- The Wasp took a new name, Black Widow.
- That long streched arm in the Fantastic Four building? It belongs to Sue, not Reed.
- Eyepatch of Power: Loki, when he returned from his apparent death.
- Gilligan Cut: One panel, the Wasp is happy and joyful as she heads to another adventure with Henry Pym. The next panel, she's crying over the corpse of Pym, assasinated by Loki in the first Avengers story.
- In Love with the Mark: Starfox vs. Contrary. He tried to confuse her by manipulating her pleasure senses. She realized the trick, and did the same on him. The inevitable result happens, a passionate kiss.
- It's Personal: The Black Widow and Thor do not want any "reinforcements". Loki killed Pym, so this is absolutely personal.
- Leeroy Jenkins: Hardcase, in his fight against Captain America.
- Loads and Loads of Characters: You tasked George Perez to make the cover art for a crossover, what else did you expect?
- Mud Wrestling: Black Widow, Crystal, Siren and Topaz.
- Never Found the Body: When Loki murdered Pym, Thor tried to execute him with his hammer. He dissapeared, "to hell, if there is justice". No luck. Loki returned several years later, but completely nuts from Thor attack.
- Oh, No... Not Again!
- The Black Knight wakes up with an Ebony Sword from an alternate dimension, and attacks someone by accident. Now, he's tied with the cursed sword... again.
- Crystal has finally found Dane Withman again. But the only way to defeat Nemesis is if he attacks her in a suicide attack with the Ebony Sword. So, he must leave her for the sake of the universe... again.
- Troll: Loki, in the first act. He keeps trolling in the fights in pure Loki-style.
- Who Dares?: You dare attack Nemesis with physical force?! Amusing.
- You Monster!: Thor already knows that Loki is evil, but when he murdered Giant Man he crossed the Moral Event Horizon.