In this chapter, Wade Watts, also known by his online persona Parzival, dives deeper into the hunt for the First Key, the initial step in the quest for James Halliday's Easter egg. The chapter opens with a sense of urgency as Wade details the competitive atmosphere surrounding the hunt. He describes how a multitude of 'gunters' (egg hunters) have sprung into action, all driven by the prospect of immense wealth and the control of the OASIS.

Wade reflects on Halliday's obsession with the 1980s, which serves as both a challenge and a guide for Wade and other gunters. The hunt's first challenge is heavily influenced by 80s pop culture, which is a recurring theme in Wade's journey. Wade dedicates countless hours to researching Halliday's life, interests, and the various pop culture references that have become essential to understanding the challenges ahead. This includes everything from classic movies and music to iconic video games of that era.

As Wade plunges into the OASIS, he showcases his skills as he ventures to find the First Key. He recalls Halliday's obsession with the role-playing game Dungeons & Dragons, which sets the stage for the upcoming challenge. Wade's knowledge becomes his greatest asset as he navigates through a series of tasks that require not only gaming skills but also a deep understanding of 80s trivia. He encounters various obstacles that test his capabilities and resolve.

During his search, Wade comes across a significant clue—a riddle that hints at the location of the First Key. This mystical object is said to be hidden within a recreation of a famous 80s film scene. The competition intensifies as other gunters, including Aech and Art3mis, whom Wade admires, also begin to close in on the location. Wade's determination grows stronger, not only due to the potential rewards but also because of his desire to prove himself in front of his peers.

The chapter captures the thrill of competition and the camaraderie among gunters, while simultaneously highlighting Wade's internal struggles with self-doubt and the pressure of the race. He understands that the stakes are high, not just for himself but for the future of the OASIS, which is threatened by corporate greed from the Sixers, a group intent on exploiting Halliday's challenges for profit.

Ultimately, 'The First Key' marks a pivotal moment in Wade's quest, setting the tone for future challenges and the deepening of his character as he learns the importance of knowledge, community, and resilience in the face of fierce competition. Wade's journey is not just about winning; it becomes a personal quest for identity and belonging in a world where reality often feels bleak.