Deadpool 3 trailer features Avengers: Endgame portals, Hugh Jackman's return as Wolverine, and the one thing Kevin Feige won't allow in the MCU

The new trailer for Deadpool & Wolverine has arrived, and it's a multiversal mind-bend.

"I'm about to lose everything that I've ever cared about," Wade Wilson (Ryan Reynolds) says at the beginning of the new trailer.

From there, Wolverine (a returning Hugh Jackman) is brought into the fold to, presumably, help save Wade's world after failing to save his own - all while teaching him the meaning of being a hero.

As you might expect from the R-Rated adventure, it's not pulling any punches. There's plenty of gore and violence, limp dick jokes, and even an extended bit on Deadpool telling Blind Al (Leslie Uggams) that Marvel Studios president Kevin Feige declared that cocaine (and its many, many slang names) are off-limits in the threequel.

As for who they're hunting down? The trailer includes a bald character played by Emma Corrin, who has long been rumored to play Cassandra Nova. The trailer as a whole is also packed with blink-and-you'll miss it nods and references that we can't wait to get our claws into.

Star Ryan Reynolds teased the trailer drop ahead of its release with two clips posted to Twitter. First he shared the Deadpool 2 post-credits scene, which features Hugh Jackman's Wolverine, and next he posted another clip that also heavily focuses on Jackman's iconic character. Reynolds also shared a poster for the movie, which shows off Wolverine's sharp claws.

We already had some idea on what the trailer would show thanks to CinemaCon, where footage was screened behind closed doors. Wade being tasked with saving the Sacred Timeline has already raised questions following the end of Loki season 2.

"As far as crafting the Deadpool & Wolverine story, I just felt privileged every day because you're talking about two massive movie stars in their most iconic roles. It also gave me an opportunity. It's the third Deadpool movie, but it's not Deadpool 3," director Shawn Levy said at CinemaCon. "It's a different thing that's very much Deadpool & Wolverine. And it's not trying to copycat anything from the first two movies. They were awesome, but this is a two-hander character adventure."

Deadpool & Wolverine arrives this July 26 in US theaters and on July 25 in the UK. In the meantime, check out our guide to all the upcoming Marvel movies and TV shows for everything else the MCU has in store.