Aqueous Eterniite is an extraordinarily rare substance with potent arcane properties. Said to be solidified water from the Well of Eternity itself, this material is not considered to exist by the mages of the Kirin Tor, who consider it to be nothing more than fairy tales.
According to legend, Aqueous Eterniite was formed in one immense, solid block that coalesced from the Well's waters due to immense arcane, fel, and physical pressures at the moment of the Sundering. The following explosion that shattered the continent also shattered this block of Aqueous Eterniite (some scholars theorize that the power of the Aqueous Eterniite itself caused the explosion). Subsequently, small shards of Aqueous Eterniite were thrust radially outward from the epicentre, raining down upon the world. It is estimated that 65% of Aqueous Eterniite fell into the sea and is not recoverable, except perhaps by the Naga and other aquatic beings.
The shards of Aqueous Eterniite spread around the world remained dormant until an ancient Gurubashi troll arcanist known as Zarizan began a campaign to collect it for his own selfish purposes. Though his regiments destroyed each other in competition, the survivors succeeded in delivering to Zarizan roughly two dozen shards of Aqueous Eterniite. It is thought that Zarizan is responsible for giving the substance its formal name.
Zarizan melted down the Aqueous Eterniite in a magical foundry of his own design, and formed precisely-weighted ingots of the material. Once it was hardened again, Zarizan hammered the ingots into pages and a binding, which he subsequently assembled into a book. Using arcane implements capable of scribing runes into the Aqueous Eterniite, Zarizan recorded all of the words of power and incantations that he knew. Thus the book became a spellbook, which later came to be known as the Tome of Zarizan, which rapidly led to Zarizan's death and other consequences.
Though many shards of Aqueous Eterniite were recovered by Zarizan's mission, still more remain buried deep underground across the lands of Azeroth, waiting to be discovered and used--for better or for worse.
Aqueous Eterniite is made up of Well of Eternity water imbued with Arcane and Fel energies that maintain its solid state. Its properties are similar to that of a soft metal. Though very brittle and easily broken while solid, it can be softened by heating and in this state can be hammered, drawn, moulded, or otherwise shaped and worked. Combining this heat with specific types of Arcane or Fel energy can cause the Aqueous Eterniite to become unstable and melt, though it will stabilize and resolidify should the energy and heat be removed. It was by this technique that Zarizan poured ingots of Aqueous Eterniite. It is theorized based on Zarizan's work that specific quantities of Aqueous Eterniite may invoke special properties, but there is no evidence to confirm this.
Aqueous Eterniite is deep, transparent teal-blue in appearance and has been known to be mistaken for shards of broken tinted glass. The edges of shards are sharp and should be handled with care to avoid cuts. Due to its volatile nature, it is not advised that Civilians handle Aqueous Eterniite, and they would be wise, if any is found, to submit it to the proper authorities. Since it is widely advertised by the mageocracy that Aqueous Eterniite is a myth (and subsequently no mage authority will accept it), the Explorers League of Ironforge within the Alliance and the Earthen Ring amidst the Horde have stepped forward as authorized processors of Aqueous Eterniite and offer small currency rewards for any that is presented to them.
Obviously, not all of Aqueous Eterniite's properties are physical. Its magical properties, however, are extremely mysterious, especially since they are not constant. The Arcane energy of Aqueous Eterniite has been known to cause explosions, to strengthen enchantments, to dampen or amplify magic, and a myriad of other miscellaneous Arcane effects. Similarly, the Fel energy of the substance has been demonstrated to corrupt creatures, attract demons, affect spells, and even prolong the lifespan of a mortal being unnaturally. Aqueous Eterniite is easily identified by magic-sensitive beings as it radiates an overwhelming aura of Arcane and Fel power.
If you believe you have discovered a shard of Aqueous Eterniite, do not handle it bare-handed. Take care of its sharp edges and avoid spellcasting while carrying it. If possible, keep it in a magically shielded container. Deliver it to the Explorers Guild or the Earthen Ring as soon as possible.