The treasure—­and the curse—­next passed into the keeping of Sigurd (the Norse form of Siegfried), a descendant of the race of the Volsungs, a house tracing its genealogy back to the god Woden.  The full story of Sigurd’s ancestry it is unnecessary to deal with here, as it has little influence on the connexion of the story of the Volsungs with the Nibelungenlied.  Sigurd came under the tutelage of Regin, the son of Hreithmar and brother of Fafnir, received the magic steed Grani from the king, and then was requested by Regin to assist him in obtaining the treasure guarded by Fafnir.  After forging a sword for himself out of the fragments of a blade left by his father Siegmund, he avenged his father’s death and then set out to attack Fafnir.  Meeting Woden, he was advised by the god to dig a ditch in the dragon’s path.  Encountering Fafnir, he slew him and the dragon’s blood ran into the ditch, without which he would have been drowned by the flood of gore from the monster.  As the dragon died he warned Sigurd against the treasure and its curse and against Regin, who, he said, was planning Sigurd’s death.

When Regin saw that the dragon was quite dead, he crept from his hiding-place and quaffed its blood.  Then, cutting out the heart, he begged Sigurd to roast it for him.  In this operation Sigurd burnt his fingers and instinctively thrust them in his mouth, thus tasting of the dragon’s blood, whereupon he was surprised to find that he comprehended the language of the birds.  Hearkening intently to the strange, new sounds, he learned that if he himself should eat the heart, then he would be wiser than anyone in the world.  The birds further betrayed Regin’s evil intentions, and advised Sigurd to kill him.  Seeing his danger, Sigurd went to where Regin was and cut off his head and ate Fafnir’s heart.  Following once again the advice of the birds, he brought the treasure from the cave and then journeyed to the mountain Hindarfjall, where he rescued the sleeping Valkyr, Brynhild or Brunhild, who had been pierced by the sleep-thorn of Woden and lay in slumber clad in full armour within a castle, surrounded by a hedge of flame.  Mounting his horse Grani, Sigurd rode through the fiery obstacle to the gate of the castle.  He entered it, and, finding the maiden asleep, cut the armour from her with his sword—­for during her long slumber it had become very tight upon her.  Brunhild hailed him with joy, for she had vowed never to marry a man who knew fear.  She taught Sigurd much wisdom, and finally they pledged their troth.  He then departed, after promising to remain faithful to her.

On his travels he arrived at the court of Giuki or Gibicho, a king whose domains were situated on the Lower Rhine.  Three sons had he, Gunnar, Hogni, and Gutthorm, and a daughter Gudrun, a maiden of exquisite beauty.  His queen bore the name of Grimhild, and was deeply versed in magical science, but was evil of nature.

They received Sigurd with much honour.  Grimhild knew of his relations with Brunhild, and gave him a potion which produced forgetfulness of the war-maiden, so that he accepted the hand of Gudrun which Giuki offered him.  The marriage was celebrated with great splendour, and Sigurd remained at Giuki’s court, much acclaimed for his deeds of skill and valour.