The Axe was created by the demon "Tasrael". Tasrael wanted to close off the Astral Realm to humans so he created the Chaos Axe and challenged GOD himself. Sure enough GOD won and sealed the Axe away in the human realm. The Astral Realm was sealed away by 4 seals, and thus Galvis' story begins.
I very much enjoyed this game, being a retro indie game fan, but there are a couple things that bothered me: First off the combat system, though not being bad, does have it's cons since you thrust your weapons instead of swing them. It could be a pain to hit enemies that attack you from different directions. Secondly, although I for one did enjoy the story, it could have been a bit deeper with telling you the story WHY Galvis is evil.
All in all though, this game is a real enjoyment for those who like retro villain throwback games. for $1.99 on Steam I don't see a reason NOT to pick this up. Also EvilQuest II is in the making, so that's exciting