Hakon was the leader of a band of Vikings in the year 994, who sacked Castle Wyvern with the help of the Captain of the Guard. He was also responsible (despite the Captain's attempt to prevent it) for the shattering of the Wyvern Clan of gargoyles. When confronted by Goliath, Hakon blamed his clan's death on the Captain, which caused him to attack him. This in turn caused them both to fall to their deaths, but their life energies were absorbed by a strange monolith within the Archmage's Lair.
They remained trapped in the cave of the monolith, focusing their hatred on Goliath, until he returned to the site of Castle Wyvern in 1995. Once he was there, Hakon and the Captain used the power of the monolith to torture Goliath with memories of the past. Eventually, the pair finally decided to absorb Goliath's life energy to restore themselves to life. However, the Captain, regretting his past mistakes, stopped Hakon and ruined the process, allowing the Captain to move on and trapping Hakon in the shattered monolith.
Some months later, Hakon was able to draw his descendant, Wolf, to his cavern, and travelled with him to New York City inside a Viking axe. Wolf and Hakon battled Goliath and Hudson, but Hakon's axe was destroyed in a trash compactor, severing his spirit's ties to the Earth plane and dispersing him forever.