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Spider-Man/Peter Parker recaps his origins as a superhero: having gained spider-like abilities after being accidentally bitten by a genetically-modified spider, Peter chose to use his unique powers for the greater good, dedicating every day of his life ever since to the neverending battle against crime and eventually establishing himself as the protector of New York. Peter also explains how his and Eddie Brock's fathers worked together to find a cure for cancer, having created a "suit" that would be capable of healing the wearer. However, they never got to finish work on this "Venom" suit because they signed a contract with Trask Industries that caused them to lose ownership of the suit and they both died in a plane crash soon after. Following Richard's and Eddie's death, the dangerous and incomplete Venom suit was kept by Trask Industries, never to be seen or heard of again.
Years later, Eddie Jr. and Peter reunite and discover the Venom suit is their inheritance. After learning how his dad had been cheated by Trask Industries, Spider-Man breaks into the vault containing the Venom suit and is covered by a portion of it, creating his black suit. It enhances his superhuman abilities to new levels but also tries to consume him, so he is soon forced to remove it and is left drained by the experience. Eddie later finds out about this inccident and, after learning Peter's secret identity as well, takes the rest of the Venom suit for himself, imbuing himself with an incomplete, monstrous, and feral Venom symbiote. Confronting Peter on Midtown High School's football field, the two engage in a violent battle, until Venom is accidentally electrocuted by a downed power line and seemingly dies. Meanwhile, Adrian Toomes, who has secretly witnessed their confrontation, contacts an unknown person to infrom them about the Venom suit's return.