One Piece chapter 1150 was recently released and showed Imu, in control of Gunko's body, transforming the Giants Dorry and Brogy into demons, sparking numerous theories about what happened to Loki in the past. And there is a new theory, started by @DaveDawson56983 on X, that suggests that the blindfold that he is wearing is a way to protect him from being controlled.
It would make sense that Loki has a way of not being controlled since the Holy Knights wanted to recruit him when it would have been a lot easier to turn him into a demon. Furthermore, this could also set up a One Piece flashback where it is revealed that he had to murder King Harald and other Giants because they turned into demons and did it out of self-defense.
Disclaimer: This article is a speculative theory and reflects the writer's opinion.
Explaining how Imu's Domi Reversi connects to Loki's past and the blindfold he wears in the One Piece manga
One detail of Loki's design that hasn't been addressed thus far is the fact that he is wearing a blindfold, which he has been using since he was a child, as evidenced by some brief flashbacks in this arc. Therefore, this theory suggests that someone, perhaps King Harald, had him wear that blindfold to protect him from the effects of Imu's Domi Reversi.
It would make sense because, as stated before, Gunko and Shamrock arrived at Elbaph and asked him to join the Holy Knights, which wouldn't be necessary if Imu used Domi Reversi on him. This means that the ability must meet certain conditions to turn people into demons, and there is a strong possibility that Loki is immune to that ability, hence why he hasn't been transformed as of this writing.
Furthermore, when considering the fact that Loki was imprisoned for the presumed murder of King Harald, there is now an argument to be made that the latter was a demon and attacked the young Giant. This would mean that he killed him in self-defense, making his backstory quite tragic, which aligns with author Eiichiro Oda's approach to writing backgrounds for his characters.
What could this mean for the story?

One Piece author Eiichiro Oda has been teasing for a long time that Loki is innocent of the murder of King Harald or that he had his reasons to do it, thus suggesting that he isn't a bad guy, much like Luffy thought. Some people have theorized that he will join the crew, as evidenced by his desire to join Rocks D. Xebec years ago, which is similar to Oda's pattern of introducing new members.
Spoilers for chapter 1151 suggest that he will join the fight against Imu and the Holy Knights, which is likely to provide readers with valuable context regarding his actions and motivations. Moreover, this confrontation will determine whether he can be turned into a demon or not, thus potentially providing a solution against the Domi Reversi technique employed by the leader of the World Government.
Final thoughts
One Piece is going to provide a lot more information regarding Loki, who he is, and the actions behind the murder of King Harald, which could also give more context for the reason why he wears a blindfold. Moreover, if Imu can use Domi Reversi on the Elbaph Giants, then Oda needs to explain why they didn't use it on Loki if they wanted him to join the Holy Knights.
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