Equipment are items that you can carry with you that offer some sort of effect. All except the Adventurer's Fedora have a passive effect.
There are 4 different slots: headwear, armor, footwear and handwear. You can only have one piece of equipment per slot.
Headwear
Item
Description
Effects
Circlet of the Serpentine
Vamp health on damage
Dealing damage heals 1-3 points of health. Affected by Gunnr's Bracer.
Overrides Skuld's innate healing on hit, drastically reducing the amount of healing she can receive.
Ymir's Crown
Echoes your attacks
When you hit an enemy, an extra projectile will be fired at them.
Helm of Rage
Increase damage with perfect rhythm
Damage is increased based on your current multiplier.
Deadeye Lens
Autoaim
Increases the size of the crosshair making the natural autoaim more effective.
Helm of Precision
Critical Multiplier
Increases the damage you deal when hitting an enemy's critical point.
Speed is increased based on your current multiplier.
Horned Shot
Explosive shots
Shots create a small explosion on impact.
Equity
Reflects damage
Enemies that damage you are damaged.
Adventurer's Fedora
Rotate ability slots
Activate to rotate your equipment and abilities clockwise (including the Fedora itself).
This allows you to equip multiple items of the same kind.
The Secret Chord
Opening Mega Shot
Charges after room clear. After charging, your first shot deals extra damage in an AoE.
Selðr's Hat
Mind Flay
Damages enemies in the area around your character, indicated by the circles emanating outwards.
Will destroy the flying Dragon Head projectiles before they can hit you, which can help in boss fights, as well as eliminate most melee enemies before they can attack.
Ogre's Helm
Spread Shot
(poorly known)
Splits your projectiles (rockets, grenades etc.) into 6, but reduces their damage (uncertain)
Unknown behaviour with hitscan weapons (bullets and lazers)
Reduces range of bullet based weapons
Fluffy
Reload Empowers Next Shot
Increases damage of next shot after reload, turning the ammo counter blue as indication
Helm-Heim
Enemies Fragment on Death
On death, enemies will spray 8(?) projectiles horizontally in a small radius around them, dealing (?) damage each
Mani
Chance to freeze enemy on hit
chance to freeze enemy on hit for 1-2 seconds
Short Horned
Luck Up on Floor Completion
Gain +1 Luck upon entering a new floor.
Armor
Item
Description
Effects
Storm
Cleaving
Hitting an enemy will also damage nearby enemies. This effect penetrates shields.
Berserker's Arm
Critical
Increases damage when hitting critical spots.
Lion Heart
One more life
Prevents death once and restores 50 HP (100 with Gunnr's bracelet). The item is then consumed.
Works on Sanngriðr.
Works on Odr.
Dragon's Skin
Shield regeneration
Grants 25 shield that regenerates back at a rate of 5 every two beats if lost.
Incoming damage prioritizes the regenerating shield.
Hellish difficulty doubles damage taken as well, and it still reduces damage by 10. However it is less valuable: attacks become 40, doors and sonar beams become 10, lava becomes ??.
Does not affect amount of coins lost as Herfjötur
Springhel
Jump up
Drastically increases jump height
Svalinn
Generate shield when still
Grants 25 shield that regenerates back at a rate of 5 every beat if lost.
Weapons shoot twice each shot - consuming twice the ammo.
Does not work with Minigun.
The name is likely a typo of Quarternote.
Golden Bracelet
Find more gold
Enemies have higher chance to drop gold.
Asp's Whisper
Shots slow enemies
Dealing damage slows enemies.
Go Faster Glove
Speed Up
Drastically increases speed.
Does not stack with Odin's Sneakers.
Memento Mori
Cleaving
Hitting an enemy damages nearby enemies as well. This effect penetrates shields.
Loki's Bargain
Sacrifice slot for stats
Increases all stats by 1 while worn.
When entering a new floor, permanently increases all stats by 1. This bonus is not lost when the item is dropped.
Dwarven Braclet
Reveal map
Shows all rooms on minimap.
Typo of Bracelet.
Dwarven Ring
Transforms projectiles
Changes ammo type to exploding fireballs.
Fireballs deal (at least) 400 damage (kills Phoenix and Clockwork Soul in 1 shot) at medium range and fly along a ballistic curve. If the aim pointer is locked on (it becomes a cross), they will track the target instead.
Shotgun-type weapons will shoot a spread of fireballs; however, their damage seems to be reduced.
Seems to have reduced damage on the Minigun or maybe reduced effect against Nidhogg.
Raven God
Super Range
Six-Shooter
Double time reload
Allows reloading to be activated twice as fast.
Megingjord
Carry two weapons
Allows the wearer to hold 2 weapons.
Press 3 to switch between the weapons.
The second weapon is displayed above the first weapon in the bottom-right corner, without its current ammo in the clip.
Footwear
Item
Description
Effects
Rhythmic Chaos Boots
Strike to the beat
When entering a new room, deals damage to nearby enemies on every beat for 4 beats.
Afterwards, deals damage to nearby enemies once every 4 beats.
Tampling Boots
Finishes off low health enemies
Instantly kills low health enemies in the room,percentage based.
The name is likely a typo of Trampling Boots.
Poison Boots
Lay Creep
You leave behind a poisonous trail that damages enemies that come into contact with it.
Tumbler's Boots
Tumble when firing
Every successful hit on an enemy causes you to perform a small dash.
Giant Slayer Boots
Deal percentage health damage
Your attacks deal extra damage equal to 3% of enemy's current health per hit.
Provided every time in Helheim II after you put 100 coins in the Dish across all your runs.
Skates of Strafe
Speed Multiplier
Every multiplier increases movement speed, up to 4x the normal speed.
Boots of Rock
Explode on landing
Whenever you land you create a small explosion around yourself.
Angelic Boots
Activate Jump
Allows you to triple jump.
Activate to super jump, useful to reach hidden areas.
Odin's Sneakers
Speed Up
Increases your movement speed.
Does not stack with Go Faster Glove
Spurs of Justice
Critical hits deal damage over time
Attacks that hit a critical weakpoint also inflict a DoT.
Seiðr's Blessing
Enemies die over time
Enemies in room will take passive damage one after another (not certain)
Hermod's Greaves
Speed and Range up
(exact bonus is not certain)
Aslög's Clogs
Sprinting Explodes
Sprinting leaves behind a trail of small bombs
Leaves behind bombs when moving above a certain speed without sprinting, such as jumping while moving (more testing required)
Njord's Greaves
Enemies drop coins
Hitting enemies with your weapon has a chance to drop 1 gold.
Consumables
Consumables are items that are immediately used upon pickup.
Item
Appearance
Description
Coin
A single coin.
Coin Bag
Grants a random number of coins between 3-5.
Key
Grants one key which allows you to open one locked chest or door.
Skeleton Key
An infinitely reusable key, bypassing the need to collect normal keys. This lasts for the entire run.
You can still place keys in the Devil Altar as if you had normal keys and guarantee a reward.
Clip Up
Increases clip size by 1.
Clip count is applied to new weapons.
Small Healing Potion
Heals for 25 HP.
No effect when used by Odr or Sanngriðr.
Large Healing Potion
Heals for 50 HP.
No effect when used by Odr or Sanngriðr.
Heart Container
Increases max HP by 25 (does not increase current HP to match) up to 400 HP.
Not to be confused with Precision Up - the Lucky Dice is parallel to the ground and has a dirty, rugged appearance.
Shield Converter
Converts all current shields to both maximum and current health up to 400 HP. If the HP cap of 400 is hit, leftover shields will remain as sheilds. Max HP will round up to the nearest multiple of 25.