The Shang-Chi And The Legend Of The Ten Rings does what every great Marvel Cinematic Universe trailer does. It answered a lot of questions and asked a lot more. The first official teaser for the movie confirmed a lot of speculation on the release but generated even more mystery with some intriguing shots.

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From the teaser, it seems the movie will build both off of the comic book legacy of Shang-Chi and some of the particular lore of the MCU that has been established in earlier movies. Big questions remain about where the movie might be taking both the character and the franchise going forward.

Confirmed: The Real Mandarin

The Mandarin in the Shang Chi trailer

Shang-Chi his portrayal in Iron Man 3, despite being one of Tony Stark's greatest comic book villains. Shang-Chi And The Legend Of The Ten Rings serves to retcon the disappointment with the villain by establishing the real Mandarin.

He appears to be Zheng Zu, Shang-Chi's father. This is a change from the comics. Zheng Zu has no connection to The Mandarin in the Marvel Universe and was in fact originally Fu Manchu, a fictional character Marvel licensed in the '70s. After the rights lapsed, Marvel changed many of the names and details of Shang-Chi's backstory.

Question: Who Is Katy?

Katy on bus looking shocked in Shang-Chi

The new trailer revealed actress Awkwafina as Katy. She appears to be a friend of Shang-Chi and a relatively normal person, outside of driving a city bus during a martial arts fight. Katy doesn't appear to have any obvious connections to any Marvel Comics characters, but the question remains if she is in fact someone from the comics.

Much of Shang-Chi's world is made of people who aren't really what they seem, like his father, and it's certainly possible that Katy is someone more than she initially appears.

Confirmed: The Ten Rings

Shang-Chi Ten Rings Base

The Ten Rings of the title of the movie is in fact the Ten Rings organization that was established in the original Iron Man movie in 2008. Speculation was heavy on this point, but the trailer finally confirmed it. This connects the new movie directly back to the beginning of the MCU. It also potentially lines up with current MCU events.

Zheng Zu was the head of an international criminal enterprise. It had loose connections with another, The Corporation, that Shang-Chi confronted early in his comic adventures in the '70s. One of the leaders of The Corporation was The Power Broker, who is the mysterious villain at the heart of The Falcon And The Winter Soldier.

Question: Any Connections To Other MCU Characters?

Shang-Chi With Protectors Line Up from comics

Outside of the Ten Rings, there aren't a ton of obvious connections to the rest of the MCU in the trailer. That only begs the question of if the movie will feature stronger ties to the rest of the franchise. It's something of an MCU tradition for the first movies of new franchises to feature some kind of cameo from another big MCU character. The question is, who?

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Shang-Chi is based in San Francisco, per the trailer, which leads to the possibility that numerous characters from the Ant-Man And The Wasp franchise could factor in the movie. These include the titular characters, as well as Agent Jimmy Woo, last seen investigating the missing witness in Westview in WandaVision.

Confirmed: Razor Fist

Razor Fist fights Shang-Chi on a bus in Shang-Chi and the Legend of the 10 Rings

Fans had already speculated on all kinds of Marvel characters who could appear in the movie. One that the trailer confirmed is Razor Fist. He is a fairly minor character who had both his hands replaced with sharp blades. He debuted in Master Of Kung Fu #29 in 1975 and this is his first live-action appearance.

The name has belonged to four characters in the comics in total, after the first version, William Young, died. It's not clear yet which version the movie is, or if he's some synthesis of the four.

Question: When Does The Temple Battle Take Place?

Shang Chi Trailer Battle At temple

The trailer features a tantalizing series of images from a massive battle outside what seems to be an ancient temple. The combatants are wearing historical garb that could place them in China or Asia, and are using traditional swords and shields. Many are even on horseback.

This appears to take place in the past, but at least one of the people fighting in this scene is using superpowers. The question becomes when does the battle take place? Does it take place in the past, or is it actually occurring in the present of the MCU?

Confirmed: The Movie Deals With Magic

Shang Chi Trailer Foo Dog Jumping

Another element of the temple battle that is curious is that it appears to involve mystical giant lion-like creatures known as foo dogs. These mythical Chinese guardians suggest the presence of magic in the movie. Shang-Chi has no superpowers in the comics, but he may be dealing with mystical enemies.

Given the increasing presence of magic in the MCU, with both powerful Marvel magic s like Scarlet Witch and Agatha Harkness active in the world, Shang-Chi could introduce even more mystical elements.

Question: Who Is The Death Dealer?

Shang-Chi Masked Villain Death Dealer

One of the main villains showcased in the trailer is a mysterious masked figure known as the Death Dealer. The Death Dealer does have a history in the comics against Shang-Chi, though it's relatively brief. Li Ching-Lin served as an MI-6 operative alongside Shang-Chi in the comics before being unmasked as an agent for Fu Manchu. But who are they in the movie?

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The Death Dealer is clearly a member of the Ten Rings organization, but with their mask, there could be another element to their identity, just as there could be with the Taskmaster in the Black Widow movie.

Confirmed: Shang-Chi Might Have Powers

Shang-Chi Surrounded By Magical Water In Movie

Shang-Chi is the apex martial artist in Marvel Comics, operating at peak human ability. He doesn't have any superpowers, but in the movie that might be different. There's a hint in the trailer that he might have some kind of superpower in an intriguing scene.

Shang-Chi approaches some kind of stone wall, which then projects a deluge of water at him. The water slows down as he approaches, so much it basically freezes in place without actually freezing. Is Shang-Chi causing this, or is it someone else?

Question: What Are The Ten Rings?

Shang Chi Trailer Ten Rings around the arm

In the comic books, the Ten Rings used by Mandarin were actually cosmically powered objects given to the supervillain by aliens. That could still be the case in the MCU, given how cosmic the franchise has gotten, but it's unlikely. The trailer gives a brief glimpse of what may be some of the rings, which appear more like bracelets around the arm of a woman.

This appeared to take place during the temple attack scene and may link to the mystical and magical elements present like the foo dogs. But further complicating when this scene takes place, the woman appears to be wearing modern clothes, with machine patterned fabric and gloves.

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