Years ago, a small band of aspiring adventurers received Azuredge, a powerful artifact devoted to the defense of the city. The magical axe typically appeared only during the City of Splendors’ times of greatest need. No one knew why the axe appeared now, or why it chose this band of adventurers to wield it. But the Company of the Blue Axe quickly gained fame and notoriety… and even their own toy line.
Six years ago, they disappeared. Shortly after that, the worshippers of Shar, dark cultists devoted to darkness and loss, attacked the city and claimed one of the wards, the district of South Ward. The Company of the Blue Axe reappeared to try and reclaim the lost portion of the city. Instead, they were captured and publically executed.
The City of Waterdeep has undergone several disastrous calamities since then, including invasions by sea creatures and the loss of some of their greatest defenders. Waterdeep now teeters on the edge of financial and physical collapse. If ever it needed heroes, now is the time.