Breaking down the 1st 'Thor: Ragnarok' trailer

— -- There's a lot to digest in the first trailer for "Thor: Ragnarok" but let's give it our best college try.

First off, after seeing Thor without his hammer in the first batch of promotional pictures for the film, we find out what happened to his trusted weapon in the first 30 seconds of the clip: Cate Blanchett's character, the villainess Hela, crushed it with her hands after catching it mid-air.

Furthermore, after seeing Blanchett don the black hair and sinister look, we find out more about the classic Marvel foe. The Oscar winner says "Asgard is dead" as she attacks Thor's and Loki's home.

But the first trailer isn't just about new villains. The Hulk (Mark Ruffalo) is back and in a big way! He's been fighting in these sort of gladiator matches, which are put on by Jeff Goldblum's Grandmaster, who runs the underworld of Sakaar. The crowd seems to love the green guy, which means he's been fighting for quite some time and could even be a local hero.

There's also the quintessential humor you've come to love from Marvel movies. Though he's pitted against The Hulk in battle, Thor yells "Yes!" upon seeing his friend. "We know each other. He's a friend from work," Thor explains.

This first "Ragnarok" trailer has created so many questions for fans: Where is Doctor Strange and who is the mysterious Valkyrie character, played by Tessa Thompson?

For the full breakdown from ABC News' Michael Rothman and Fivethirtyeight's Walt Hickey, watch the video above.

"Thor: Ragnarok" hits theaters on Nov. 3.

Marvel and ABC News are both part of parent company Disney.