From today's literature, it is regarded as the most important poem, which builds on the Merkversdichtung. At the same time it is considered a hymn by singing the praises of the royal ring donors ( sponsors ) and also the poets and singers who scopes priced. For the most part, there is the work of an overview of the people, kings and nations of the heroic age. With the exception of the introduction, the conclusion and individual interspersed comments is the poem in three ' catalogs ' divided, in Anglo-Saxon Thulas ( Old Norse Thula, compare, for example Rígsþula ). The first Thula, the King catalog provides a list of the various kings of this time, after the pattern ' ( royal name ) ruled ( tribal name ) '. The second Thula, the peoples catalog, brings the names of the tribes visited by the narrator, after the pattern ' The ( tribal name ) I was, and at the ( other tribal name ). ' In the third and final Thula, the hero of the catalog, we learn the names of the Nordic heroes he has visited, after the pattern ' (Hero Name ) I have visited and ( hero name) and ( hero name). ' This might seem monotonous, it would not repeatedly interrupted if the poet appends details, which seem to him important or noteworthy to a name. The quality of the poet who sees this as a form of orally transmitted history, with no place or time to connect the names but the alliteration, is especially evident in the very successful conclusion, which praises the wandering life of the minstrels who and satisfied with their fate are proud of their arts.