Nýt buðumk (Njarðar dóttur)
(nálægt vas þat -skála)
(vel of hrósak því) vísa
vǫrn (sævar ǫl-) (barni).
Nýt buðumk vísa vǫrn; þat vas nálægt ǫlskála sævar; of hrósak því barni dóttur Njarðar vel.
The useful one offered me secure protection; that was close to the ale-hall by the sea; I truly praise that child of Njǫrðr’s <god’s> daughter [= Freyja > = Hnoss (hnoss ‘treasure’)].
[1] nýt (f. nom. sg.) ‘the useful one’: Taken as an adj. (f. nom. sg.) here, which functions as the subject and refers to an understood hnoss (f. nom. sg.) ‘treasure’ (i.e. the weapon). Skj B connects it with øx ‘axe’ (emended from ǫl ‘ale’, l. 4). Faulkes (SnE 1998, II, 365) construes it with vǫrn ‘protection’ (l. 4), which he takes as nom. sg. Skald reads nýtt (with W, U), which here can only be n. nom. sg. and a qualifier for bál ‘fire’ (emended from ǫl, l. 4).