Plot
Krona, an exiled Oan, travels across and destroys universes seeking the truth of creation. When he arrives in the Marvel Universe, the Grandmaster, wanting to save his universe, proposes that they play a game. If Krona wins, the Grandmaster will lead him to a being (Galactus) in that universe who has witnessed creation. If he loses, Krona has to spare the Grandmaster’s universe. When summoning the players to participate in this game, Krona decides to swap champions, so the Grandmaster’s longtime adversaries, the Avengers, will represent Krona, and the Justice League, from Krona's home universe, will fight for the Grandmaster. This means that the Avengers must lose the game in order to save their universe.
The Grandmaster informs the Justice League that to save the universe they have to gather 12 items of power (The six DC items are the Spear of Destiny; the Book of Eternity; the Orb of Ra; the Psycho Pirate's Medusa Mask; the Bell, Jar and Wheel of the Demons Three; and the Green Lantern Power Battery of Kyle Rayner. The six Marvel items are the Ultimate Nullifier; the Evil Eye of Avalon; the Wand of Watoomb; the Casket of Ancient Winters; the Cosmic Cube; and the Infinity Gems.), while his ally Metron tells the Avengers that they have to stop the League to prevent the world being destroyed.
The Justice League travels to the Marvel Universe, and are dismayed by the Avengers' failure to improve their Earth's condition. When the Avengers visit the DC Universe, they are surprised by the "futuristic" architecture of its Earth's cities and the honors that the Justice League and other native heroes receive for their deeds, and believe that the Leaguers are fascists who demand that civilians worship them. Various Leaguers and Avengers travel across the two universes and fight each other to retrieve the artifacts of power. A final battle for the Cosmic Cube takes place in the Marvel Universe’s Savage Land, but Batman and Captain America—who together investigated the cause of the contest—arrive and stop the battle. The Grandmaster announces the Justice League as the victors, with the final score being 7-5, but Krona learns the identity of Galactus and summons him. The Grandmaster uses the power of the artifacts and merges both universes together.
Reality is altered such that the Justice League and Avengers are longtime allies, but the universes are incompatible and begin destroying each other. The Grandmaster explains to the heroes that he brought the universes together to imprison Krona using the 12 items, but Krona is merging the universes further to destroy them, hoping to create a new Big Bang, which he can survive and learn the secrets of. Before dying the Grandmaster asks the assembled heroes to stop Krona and restore order, and shows them various events that had taken place in the separate universes. Each team member witnesses the tragedies that had befallen them in their separate universes, such as the deaths of Hal Jordan and Barry Allen. Several heroes vote to leave the universes as they are to prevent the tragedies from happening, but Hal Jordan inspires everyone to work for the good of their worlds.
Krona has captured the universal avatars of Eternity and Kismet. Reality continues to change, and at Krona's base, Captain America leads every hero who has ever been a member of the Justice League or the Avengers; they battle every villain the teams have ever fought. The heroes succeed, and the universes are returned to normal with help from the Spectre, who is in fact Hal Jordan, returned to this state. Krona has imploded to form a cosmic egg, which is stored in the JLA Watchtower; Metron states that when the egg hatches, Krona will learn the secrets of its creation by being part of it. Metron and the Grandmaster discuss how Metron intentionally lured Krona to the Marvel universe. The Grandmaster says that this is the first game he played when all sides won.
Read more about this topic: JLA/Avengers
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“The plot was most interesting. It belonged to no particular age, people, or country, and was perhaps the more delightful on that account, as nobody’s previous information could afford the remotest glimmering of what would ever come of it.”
—Charles Dickens (1812–1870)
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The careful Devil is still at hand with means;
And providently Pimps for ill desires:
The Good Old Cause, reviv’d, a Plot requires,
Plots, true or false, are necessary things,
To raise up Common-wealths and ruine Kings.”
—John Dryden (1631–1700)