The main story is evolving around the city of Neverwinter, also known as "Jewel of the North." The game was supposed to coincide with the release of R.A. Salvatore’s Gauntlgrym fantasy book, which is the first in the Neverwinter Saga.
Salvatore’s first book in Nevewinter series starts 24 years after the Spellplague, a cataclysmic event that caused all magic in the Realms to go haywire and has Drizzt, Bruenor, Jarlaxle and Athrogate as main protagonists.
There are no references to the story in the game yet, due to the fact that events in Neverwinter MMORPG take place 100 years after the Spellplague, but Salvatore continues to publish new books in the Neverwinter Saga and will eventually reach the events in the game as well.
Although Neverwinter was one of the few major cities that were spared from the catastrophic effects of the Spellplague, the city was struck by another calamity 25 years later.
A volcanic eruption rained destruction over the entire city putting down everything in its path and killing everyone that remained there.
However, the city was rebuilt under the protection of Lord Neverember of Waterdeep who put forth a call to all heroes to join the rebuilding of the city.
Lord Neverember hopes that one day, he will become the rightful ruler of Neverwinter, though that time has not come yet. The city is attacked from all sides by orcs, undeads and kobolds, but also from inside, where a group of Nasher rebels is trying to grab the power from Lord Neverember’s loyal militia.
Now it’s up to you to cleanse Neverwinter of these foul creatures and restore its past glory.