Gungnir was a magic spear, also known as Hasta Fatum, the Odinspear, and the Lance of Fate. Following the destruction of the Three Keys to Power, it became one of the Three New Keys to Power.

Gungnir was used by Lord Valois to aid King Culen against Kenneth II in 971. Valois used Gungnir to conjure up watery hands to attack the Wyvern gargoyles, when they came to Kenneth II's aid in the battle with Culen. The Archmage counter-attacked with a spell, severing the spearhead from the shaft.

At an unknown point in time, the lancehead became the prize of Anapaula Aguilar's husband's collection, despite unsuccessful attempts in acquiring the haft. By 1997, Doña Aguilar kept in her home in Buenos Aires, Argentina. When Dominique Destine paid the human (and her collection) a visit, she timed it to sunset so that she could transform into a gargoyle and steal the lancehead.

Promising him controlling interest to Nightstone Unlimited, Demona employed Thailog to steal the haft from the Illuminati's treasure on Eastcheap Isle. The gargoyle located it in Wyvern's horde while Shahrizad distracted the Society's Dragon Treasurer.

Upon acquiring all Three Keys, Demona reassembled Gungnir in her townhouse and used its powers to target all humans on Earth. She managed to subjugate the humans in the boroughs of Manhattan and Brooklyn before she was cornered by Goliath, Angela, and Turquesa at LaGuardia Airport. Once she was separated from the three Keys, Coldfire directed the three of them to release the city's enthralled humans from Demona's geas. Once the spell was broken, Turquesa snapped the spear once more. It is unclear what became of the pieces.

Gungnir is a spear of vast magical power that is said to be incapable of missing its target. Valois demonstrated this in 971 when he used it to cast spells on the Wyvern Clan and the armies of the Three Brothers. Upon uniting the Three New Keys to Power in 1997, Demona repaired the spear for the first time in over a millennium. Merely wearing the spear burned the gargoyle, but Demona considered the pain useful, keeping her focused in her task to target every human on Earth.