TV Shows
Published August 19, 2021

What If…?: Episode 1 Multiverse Report

A multiverse of infinite possibilities awaits; get ready to see Peggy Carter in a whole new way!

What If...?

What If…Captain Carter Were the First Avenger?

Marvel Studios’ What If…? flips the script on the Marvel Cinematic Universe, reimagining famous events from the films in unexpected ways. Creating a multiverse of infinite possibilities, the animated series features fan-favorite characters where a single choice can branch out creating alternate worlds from the ones we know.

In Episode 1, “What If…Captain Carter Were the First Avenger?,” The Watcher witnesses a multiverse where Peggy Carter takes the Super Soldier Serum instead of Steve Rogers.

Stream Episode 1 of What If…? now on Disney+, and read on to discover some notable highlights from our Multiverse Report below!

Captain Peggy Carter


•    Peggy Carter / Captain Carter
•    Skinny Steve Rogers
•    Dr. Erskine
•    Howard Stark
•    Colonel Flynn
•    Johann Schmidt / Red Skull
•    Dum Dum Dugan
•    Bucky Barnes
•    Arnim Zola
•    Nick Fury
•    Clint Barton / Hawkeye


On Earth, during World War II, the Nazi army marches across Europe leaving death and destruction. The allied armies banned together to create a new kind of soldier – a Super Soldier. At humanity’s darkest hour, a skinny kid from Brooklyn, Steve Rogers, became Captain America. After turning the tide with World War II, he made the ultimate sacrifice restoring peace and saving this universe.

But in another universe, a single choice created a whole new hero…

Steve Rogers and Peggy Carter | What If...?


Who is The Watcher?

The Watcher does not, cannot, will not interfere.

Reality is not a straight line. Every passing moment is a chance for a new offshoot—a new variation. In fact, there are more realities than you can possibly fathom—an infinite number of What Ifs.

The Watcher can see what few others can’t, the totality of the multiverse across all time and space. He’s your guide to these vast new alternate worlds.

In this event, The Watcher highlights how one single choice created a whole new hero.

The Watcher | What If...?

The New Universe

After Paris falls, and London potentially next, Agent Peggy Carter tells Steve Rogers the Super Soldier Program, and he specifically, could end the war. When Dr. Erskine asks Agent Carter if she’d be more comfortable in the booth, she declines and states she’d prefer to stay in the room with Steve. This is the moment that created a new universe.

A New Kind of Soldier

Following a Hydra ambush, Steve Rogers is shot in the abdomen as the assailant tries to run out with a vial of the Super Soldier Serum. Peggy shoots the Hydra agent and rushes to Steve’s side. Howard Stark warns that the power levels for the machinery are dropping and if they don’t act now, they lose the project completely. Despite Colonel Flynn’s protests, Agent Carter jumps into the chamber and Stark injects the Super Soldier Serum into Peggy.

Peggy Carter, Howard Stark, Colonel Flynn | What If...?

Hydra’s Rampage

In a debriefing, Peggy and Howard reveal how Hydra, the Nazi's very own supernatural sciences division, had invaded Tønsberg, Norway. The gamma signatures detected in that town has enough power to blow everything to kingdom come in 60 seconds.

Johann Schmidt seeks out the Tesseract, the jewel of Odin’s treasure room, “fabled to hold the power to rewrite the very laws of physics and unlock doors across the universe.”

Stark proposes sending a team to Europe to intercept the Tesseract from Hydra’s grasp, which Flynn refuses to send anyone over “some glorified battery.”

Captain Carter | What If...?

Captain Carter

Dismissing Colonel Flynn’s small-minded command, Howard Stark gifts Agent Carter an upgraded USO uniform along with a shield.

With her newfound power, Peggy singlehandedly takes down all the Hydra forces protecting scientist Arnim Zola traveling with the precious Tesseract cargo. Captain Carter delivers the Tesseract to a shocked Colonel Flynn and satisfied Stark.

With the power source now in their possession, Stark uses the Tesseract to build a device to allow Steve Rogers to join in on the war efforts.

Howard Stark, Tesseract | What If...?

The 107th Infantry Regiment

Captain Carter and Rogers devise a plan on their own to save Steve’s childhood friend, Bucky Barnes, and his unit who were taken prisoner by Hydra. Peggy tells Steve he owes her a dance.

Peggy frees Sergeant Barnes, Dum Dum Dugan, and the rest of the 107th unit from a Hydra facility introducing herself as Captain Carter and letting Bucky know Steve Rogers sent her. 

Captain Carter, Bucky Barnes, Dum Dum Dugan | What If...?

The Hydra Stomper

With Hydra tanks approaching them, Captain Carter and the 107th receive an air support assist from Steve Rogers armored in The Hydra Stomper suit created by Howard Stark. Together, they topple the Nazi and Hydra forces across Europe. 

Steve Rogers and The Hydra Stomper | What If...?

Red Skull’s Champion

Johann Schmidt is unbothered by the Führer’s fury and unwilling to listen to his demands, stating, “a god does not answer to a man.” Removing his mask and revealing his true form, Schmidt now as the Red Skull declares, “The Third Reich will fall and Hydra will rise from its ashes.”

Operation: Where Eagles Dare

In an effort to finally end the war, Captain Carter, Steve Rogers and The Hydra Stomper, and the 107th plan to assault a train carrying Red Skull. Ziplining onto the train, Bucky nearly falls off the train but Peggy pulls him up as he jokes that she nearly ripped his arm off. Unfortunately, the train was a trap filled with explosives which are detonated when Steve enters the train. Peggy and Bucky mourn the supposed loss of Steve.

Captain Carter | What If...?

Coaxing intel out of Arnim Zola, a determined Peggy learns that Red Skull believes he can unleash an interdimensional force that will lead Hydra to world domination, and if that fails, world annihilation. Captain Carter cautions, if they proceed with her plan to take down Red Skull at Castle Krake, that while they may not succeed in ending the world or survive, they will at least stop Hydra. Stark, Bucky, and the rest of the 107th are all in, for Steve.

Hydra’s Monster

Using the Tesseract’s power, Red Skull opens a portal for Hydra’s champion. Unfortunately for Red Skull, the monster he unleashed crushes him in front of Captain Carter and Stark. Meanwhile, Bucky and his troop discover Hydra had taken Steve and The Hydra Stomper hostage.

As Howard pushes several buttons to send the monster where it came from, Captain Carter takes on the beast herself. Peggy receives a much-needed assist from Steve and the rest of the team. In order to push the monster back to its origin, Peggy has to use all her might to push its tentacles through the portal. However, once she and the beast are through the portal, the machine explodes. All that remains is the Tesseract and a heartbroken Steve Rogers.

Red Skull | What If...?

A Woman Out of Time

Coming through the portal, Captain Carter arrives on the other side with the beast destroyed where she’s greeted by Nick Fury and Clint Barton. She asks for Steve Rogers, to which Fury regretfully informs her that the war ended almost 70 years ago…

Marvel Studios' What If...? is now streaming exclusively on Disney+!

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