Mike Evans, Bill Rosemann, Paul Gardner, and Danny Koo spoke about their inspirations for the game's storyline, including the 22-year-old Marvel Super Heroes fighting game and the Infinity Gauntlet comic book.
They decided to use Ultron and Sigma for their similar motivations and their hatred for humanity. The two characters gather the Reality and Space Infinity Stones, fusing together and creating a new reality from the two universes.
They then played the story trailer showing Ultron Sigma taking on some of the heroes to bring everyone up to speed.
They spoke about the location used in that trailer, Xgard, to speak about their method to combine the different aspects of Marvel and Capcom.
The game begins after Ultron Sigma has already won and caused a lot of destruction throughout reality, and the player's first location in the story is the fusion between Asgard and Abel City from Mega Man.
Rosemann spoke about loving Gardner's script and how it was influenced by Marvel Comics' Age Of Ultron storyline. They're balancing over-the-top, "bonkers" stakes with a logical approach to the character's motivations.
They then promised some panel-exclusive footage and information, detailing how they're actually making the game.
They then showed a video featuring storyboard sketches that were cut with rough cinematic footage and the finished renderings, going back and forth between the different stages of production.
It showed Spencer from Bionic Commando, Arthur from Ghouls and Ghosts, Dante from Devil May Cry, Iron Man, Thor, Captain America, and others getting their butts kicked by Ultron Sigma.
They then showed concept art for a stage called Knowmoon, a combination of Knowhere from the Guardians of the Galaxy and the Third Moon from the Strider games.
They go to Knowmoon at Thanos' behest, who has been captured by the heroes but will work with them to stop Ultron Sigma. The Mad Titan has his own agenda, but he's allying with the heroes and telling them where the rest of the Infinity Stones are. The heroes decide they need the rest of the Stones to be able to take on Ultron.
That allows the storyline to break the characters into smaller pairings with interesting team ups, as each of them go out to retrieve the Stones.
They showed a new clip where Rocket, Captain Marvel, and Mega Man going to Knowhere, but are stopped by a changed Zero. Zero calls himself Oblivion, and Mega Man comments that his core routines have been rewritten by the Grandmaster.
Then they showed art for the Valkanda stage, merging Black Panther's home country Wakanda with Val Habar from Monster Hunter. T'Challa rules over this domain as well, which is said to be the only peaceful area in the new reality.
The heroes go into Valkanda to retrieve the Time Stone, allowing a small opening of Ultron drones to get in. The drones start infecting people and turning them, including a giant beast from Monster Hunter. This team up features Hulk and Ryu. With his kingdom infected, Black Panther joins the team to help the heroes.
They then showed the newly revealed stage called A.I.M.brella, the combination of A.I.M. from Marvel and the Umbrella Corporation from Resident Evil. M.O.D.O.K. is hanging out in the background of the stage with the Mind Stone embedded on his giant head.
Chris Redfield infiltrates the area while followed by Spider-Man, and the two try to retrieve the Stone when they're ambushed by M.O.D.O.K.'s new zombie monsters.
A new clip plays featuring Frank West investigating the monster attacks, being caught by Spider-Man and Frank West. Spidey gives the Dead Rising character crap for his poor photography skills.
In the process of investigating the area, they stumble across Mike Haggar who proceeds to piledrive Frank West into the floor. After realizing they're all on the same team, Haggar joins the heroes and they run into M.O.D.O.K.
Now that they've shown a lot of the storyline, the panel switches to show some gameplay footage beginning with the trailer that was released earlier today. They spoke about how the different Infinity Stones have gameplay functions, and the Mind Stone works as a powerful throwing mechanic.
They spoke about Spider-Man's level 3 hyper combo and how the Green Goblin's pumpkin bombs are used against the opponent after flying out of nowhere. Koo asked, "where is the Green Goblin?" before telling the panel to stay tuned for more character reveals.
A new tie-in comic book was announced as a GameStop exclusive, written by Marc Sumerac and drawn by Mike Bowden, with variant covers, showing how Valkanda came to be.
An impromptu fan question asked if they were planning to improve Chun-Li's face to laughs and claps, and the panel answered that it would be better when the game launches.