"What If" episode 1 release date and time, spoilers and theories: Peggy Carter as Captain Britain and Steve Rogers as Iron Man

The first episode of "What If…?" drops on Disney+ three weeks after the Loki finale. The latest show on alternate realities and infinite scenarios is MCU’s fourth inter-connected series to propel the MCU and its multiverse forward.

The tagline for What If..? is:

“One question changes everything.”

The show’s episodes are a direct consequence of the ‘multiverse’ splitting at the end of Loki episode 6.

What If...? will explore scenarios like:

What if T’Challa became Star-Lord? What if Killmonger saved Tony Stark in Afghanistan? What if Peggy Carter took the super-soldier serum? Along with Marvel Zombies, the Evil variant of Doctor Strange and Spider-Man with Stephen Strange’s “Cloak of levitation”.

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“What If...?" is returning to Disney Plus

With the first episode airing on Wednesday, August 11 (12.00 am PT, 3.00 pm ET, 12.30 pm IST, 5.00 pm AEST, 8.00 am BST and 4.00 pm KST), here are some expectations and theories about the first episode:

Steve Rogers as Iron Man (“Hydra Stomper”)

Steve Rogers as Iron Man (“Hydra Stomper”) in Episode 1. (Image via Disney+/Marvel Studios)

Ever since the first teaser, fans have seen glimpses of a super-soldier serum-powered Agent Peggy Carter as “Captain Carter”, or potentially as “Captain Britain”.

The episode will also showcase Steve Rogers without the serum in an Iron Man armor made by Howard Stark. The armor suit is based on the “Iron Monger” armor and the “Mark I” armor from Iron Man (2008). Rogers in the “Iron Man” suit first appeared in the “Bullet Points #1 (November 2006)” comic issue.

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Black Knight reference

Peggy Carter with the sword in Episode 1 and Kit Harington in Eternals (Image via Disney+/Marvel)

Another clip of the first episode showed a shot of “Captain Carter” with a sword. This might be Marvel’s version of the Excalibur sword from the comic representation of King Arthur folklore.

In the comics, the Black Knight (Dane Whitman) was also known to have briefly wielded the Excalibur sword. MCU’s Black Knight (played by Kit Harington) is confirmed to show up in the upcoming Eternals movie.

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Shuma-Gorath potentially shows up

Peggy Carter combating the tentacle alien in Episode 1. (Image via Disney+/Marvel Studios)

In the promo footage, Peggy Carter is seen combating an alien with tentacles at a Hydra base. This could potentially be Shuma-Gorath in the MCU.

Shuma-Gorath is one of the oldest inter-dimensional villains.

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In addition to these references and theories, the episode will also see Sebastian Stan returning to voice Bucky Barnes. Furthermore, in an interview with Inverse, executive producer Brad Winderbaum said:

“I hope that one day we do get to see more adventures in some of these alternate timelines.”

This makes the return of Hayley Atwell’s “Captain Carter” in future MCU movies or series very plausible.