The series starts in a large basement parking lot below Chinatown. It is filled with people of different parts of life; from rich to poor, they all gather to the festivities of an unknown event. The people seems to be in a circle surrounding two-blood covered men breathing heavily as they lift themselves and prepare to clench their fist and ready to hit each other until one of them can no longer stand. It was an underground fight club that has been organized by the Chinese Triads where much gambling can be observed throughout the whole event. In the circle, a Chinese man has entered and prepares himself for the upcoming battle that awaits him. the people around cheers heavily for the man as it the announcer shout out his perfect record of fights since the first incarnation of the fight club. The announcer introduce him as the Master of Kung Fu,  Shang-Chi. As the crowd cheers on to their champion, Shang-Chi looks sharply outside the crowd and into an old, long-bearded chinese man who seems to be the facilitator of the fight club. But before he could glance more, Shang-Chi's opponent comes before him, a large muscular man of Italian decent. As the Italian roars to excite the crowd, Shang-Chi goes into a battle stance and readies himself as the Italian charges to attack. Shang-Chi then executes a gentle punch to the Italian's heart and he suddenly gets blown away across the circle and is knocked out instantly. As the crowd goes wild for Shang-Chi's victory, he simply ignores the people's comments to him and simply walks out. The old chinese man with a long beard looks on to Shang-Chi both proud and with disdain for he is revealed in a flashback that he is Shang-Chi's father and that Shang-Chi is the rightful heir to the triad leadership but he denies hisa own rite and has chosen a life outside the triads. Although he is obligated to stop his son event to the point of permanent elimination, he is still his father and loves him so. As he is reminiscing these memories, he was interrupted by his subordinate, who addresses him as Guan Yu. The subordinate reports to Guan Yu that the money they have collected from the fight that night was highly lucrative. Guan Yu lets him leave as the fight club was over and all the people begin to exit from the parking lot, little did they knew that they are watched over by a man with a burning fist in the shadows
 
Meanwhile, Moon Knight goes on to his night patrol alone when he was alerted by an explosion to a warehouse near chinatown. He goes there immediately via parkour and stumbles upon a lot pf chinese men armed with high caliber guns that aim at him. Moon Knight draws out his crescent dart but he was interrupted by another hero clad in green and wearing a yellow mask over his face and has a dragon tattoo in his chest. Being used to the superhero business, he recognized him as the Iron Fist, battling another triad member inside the warehouse and does a flying kick to him, throwing him outside. Moon Knight charges in as the triads begin to shoot at him . Moon Knight jumps overhead from behind and begins to brawl triads and beat them to a bloody pulp. As one triad was about to shot Moon Knight from the back, Iron Fist sees this and stops him. Moon Knight also stops a sniper from the warehouse rooftop from taking out Iron Fist by throwing a crescent dart to the sniper. As Moon Knight and Iron Fist stick their back at each other surveying the surrounding area for anymore triads who are trying to kill them. Suddenly a delivery truck comes careening down and was going to run over the two heroes. Iron Fist meditates himself and his fist begin to glow  brighter as time passes. As the truck was about to hit them, Iron Fist throws a punch using his glowing fist to the truck. The truck stops and flips over Iron Fist who is unhurt but visibly tired. Moon Knight helps him to his feet and they quickly escape just as soon the police arrives and starts arresting the triads. As the two heroes catch their breathe, they introduce themselves to each other. Moon Knight then ask Iron Fist on what was he doing with getting involved with the triads. Iron Fist told him that since the Kingpin's incarceration thanks to him and Daredevil (refer to EP#9), he has not been able to hold on to his power over organized crime all over the east coast and many ethnic gang are now vying to be the next top gang; The Japanese Yakuza, the Italian and Russian Mafia, the Columbian Cartel and the Chinese Triad, who are recently becoming more and more powerful because of so many money coming to them. He discovered that the Triads are conducting underground fight clubs that works like cockfight to further finance their power over the other gangs. Iron Fist also explains that he has entered the fight club to stop the triads from the inside, but he needs help from someone who knows the triads better, and so he is looking on to one of the triad leader's son, Shang-Chi, but he does not want anyone helping him take down the triad. Moon Knight understands this and tells Iron Fist that he will also enter the fight club to help him further his plan with or without Shang-Chi's help. Iron Fist agreed to this plan  and both take their leave.
 
Shang-Chi was training for his next fight when he was paid a visit by Iron Fist and again offered him to help bring down the triads. Shang-Chi angrily refuse and said that he will do it on his own. Iron Fist argued that he will be facing the triad gang and they won't  hold back just because he is the son of their leader. Shang-Chi answered that he is open for the challenge and he is glad that they wont hold back. Iron Fist said that he will still stop the triads whether he helps him or not. Iron Fist leaves and Shang-Chi continues to train, without him knowing that he was being observed by a triad spy.
 
A couple of night later, Iron Fist officially enters the fight club tournament as himself to intimidate the triads and to go on to his plan of breaking down the triads. As he surveys the other fighters, he meets up with Moon Knight as Marc Spector. Iron Fist then tells Marc that he plans both of them will win through the tournament and then destroy the triads. Marc ask about Shang-Chi and Iron Fist said that he is still working on it. As the organizer tells Marc that he will be on the next fight, Marc tells Iron Fist watch and be amazed on his fight. As Marc fights on, he beats up his opponent mercilessly until he lost four of his teeth, broke his nose in three places and finally submits. Iron Fist congratulates Marc for his win but wasn't much impress of the fight. As Iron Fist and Marc fight their way to the fight club tournament, they have both caught Guan Yu's attention. A subordinate under Guan Yu tells him that Iron Fist was the one who destroyed their armory along with a "white-costumed superhero" and has been in contact  with his son. Another subordinate suggest that they take care of Iron Fist, but Guan Yu decided against this and said that he has a plan for all of them. As this was going on, Marc sees Shang-Chi and approaches him, and they talked about talked about the same discussion Shang-Chi had with Iron Fist. Shang-Chi still persisted that he will stop the triads on his own. Marc acknowledges this but he told Shang-Chi that unlike Iron Fist is willing to kill his father if he has to. Shang-Chi felt shaken when he heard what Marc said, so he simply walk away for his fight.
 
For the finals in the fight club tournament, that battle was between Marc Spector and Iron Fist and whoever wins that fight will face Shang-Chi. As more people bet on who will come out victorious, Marc prepares for his upcoming fight. Marc was then visited by half a dozen triads on orders by Guan Yu to eliminate him from the finals. Little did they knew that Marc has packed his Moon Knight costume with him. As the triads attack Marc, they all fall one by one to his superior fighting skills. As he defeats the last triad, Marc unloads the contents on his bag, suits up and goes above ground and set up explosives directly below where the fight club tournament is being held. Meanwhile, when Marc did not show up for his fight against Iron Fist, he was disqualified by forfeit. As this was going on, Guan Yu was visited by a subordinate, expecting the news of Marc's demise. But in contrast, the subordinate tells Guan Yu that the men he sent for Marc are all incapacitated and a crescent dart was found lodged in a wall. Iron Fist sees Guan Yu and the subordinate talking and also noticed the crescent dart he was holding. This made him realized that Marc is safe. Iron Fist waits for Shang-Chi, who has now arrived for the final battle. But before the battle could commence, Guan Yu suddenly announce that the final battle will be to the death. This surprised both competitors , but it only provoked the audience to make larger bets on who will win. The final fight begins with neither Iron Fist nor Shang-Chi gaining the advantage and as the battle rages on with none of them backing down. But when Guan Yu discreetly ordered a triad to kill Iron Fist, Moon Knight activated the explosives above ground and the roof of the fight club collapses and everything turn into chaos. As control over the the fight club deteriorates, Guan Yu angrily orders the death of Iron Fist and Shang-Chi, who Guan Yu thinks is involved with the attack. Moon Knight drops down the underground parking lot and saved both Iron Fist and Shang-Chi by covering them with his cape and they all take cover on a parking lot column. As the triads continue firing at the heroes, Moon Knight throws multiple crescent darts at their hands, disarming them of their weapons. It was then that Moon Knight, Iron Fist and Shang-Chi engage in a melee against the whole triad gang. When Guan Yu tries to escape, Shang-Chi goes after him and subdues him. Shang-Chi seems to be holding back conflicted on whether he should kill his father for trying to kill him. When Moon Knight and Iron Fist arrived where Shang-Chi is holding his father, Moon Knight asked him on what he values more, Vengeance or Justice. After much contemplation and with the police sirens getting louder, Shang-Chi released his father and tied him up himself along with the rest of the triads.
 
As Shang-Chi reflects on his past actions and asking himself if he did the right thing, Moon Knight tells him that from this time on, he will face more evil in the world than he can imagine and he must be ready for it, he must be ready to be a hero. Iron Fist agreed to this and that he will help Shang-Chi in his new path of being a hero. As they seal their friendship with each other, Moon Knight sees he ride, the mooncopter, and takes his leave. When Moon Knight goes inside the mooncopter, he is greeted by urgent news from Frenchie. He told Moon Knight that Jack Russell, the Werewolf by Night, has contacted them and says that he needs his help badly, and it involves his niece, Nina Price.