The dwarf king Hreidmar’s riches were legendary. His halls were gilded with gems and gold. Hreidmar had three sons: Fafnir, Otr, and Regin. Fafnir was in charge of guarding the king’s halls and treasury. Otr was an accomplished fisher, especially in his otter form. Regin was a skilled blacksmith, who could work with metals and gems.
Otr’s Death
When Odin, Loki, and Hoenir were part of a hunting group, they accidentally killed Otr in his otter form. Hreidmar wouldn’t be able to take revenge on the gods, but he did see a way to gather greater wealth. The dwarf king demanded reparations for the death of his son in an amount only Odin could afford.
Cursed Treasure
Odin, however, did not hand over his own treasure. Instead, he took the treasure from the dwarf Andvari. The treasure included the magical ring called “Andvaranaut.” It also included a curse: Anyone who had the treasure and the ring would find death before happiness. Odin gave it all to Hreidmar.
The Dwarf King Hreidmar’s Demise
The dwarf king Hreidmar’s treasure grew enough that his remaining two sons, Fafnir and Regin, coveted the riches. Fafnir convinced Regin to kill their father rather than wait for their rightful inheritance at the time when the king would die. Though they both conspired against Hreidmar, it was Fafnir who killed his father. Fafnir realized that he, not his brother, had done all the work, guarding the treasure and murdering his father. The treasure was rightfully his. Regin deserved no part of the hoard.
Dwarf as Dragon Transformed
Fafnir transformed himself into a dragon to better watch over his gold. Dragon eyes are always open and always watching. As such, Fafnir could keep his treasure safe day and night. Throughout the years, Fafnir enjoyed his treasure while fearing its loss. Regin nursed a grudge against his brother for the loss of his inheritance.
Sources: Sources: https://vikingr.org/other-beings/fafnir
