Chapter 481 is titled "Shadow's Asgard".
Oars is finally defeated but Moriah, to everyone's surprise, is still alive and he starts to taking all the shadows off Thriller Bark with the attack Shadows Asgard, absorbing one thousand shadows in his body. The sun is rising and the Straw Hat Pirates have to defeat Moriah to take all the shadows back before the sun can fully rise or they will turn to ash.
The Rolling Pirates and zombies of Thriller Bark announce that Oars has finally been defeated. While the Straw Hats rest after the decisive battle, Usopp immediately realizes the fight isn't over yet as he yells to Luffy to get everyone's shadows. Lola suggests to beat Moriah awake and make him give the shadows back, as the sun is about to rise. Moriah, regaining consciousness, says there is no need to wake him as he proclaims to Luffy that he wrecked so much havoc over his Thriller Bark. Moriah tells Luffy that even though he has a fine crew, they are nowhere near ready for the New World. As Moriah proclaims that due to him losing his comrades while they were alive and that zombies are immortal, he proceeds to absorb many shadows from the entirety of Thriller Bark, using his Shadow's Asgard technique. Moriah deduces that Luffy had absorbed 100 shadows to become Nightmare Luffy, noting that while he is growing big, he is absorbing 1,000 shadows into his own body. Moriah, showcasing his new strength from absorbing 1,000 shadows, proceeds to punch the ground, creating a huge fissure.
The morning sun begins to peek throughout the island, exposing a pirate's body as he proceeds to disappear, prompting the others to hide in the shade of the buildings and the forest for the time being. As the Rolling Pirates are retreating, Lola stays put, noting the Straw Hats are also not retreating despite also missing their shadows, and also telling them that since they got the Straw Hats into this mess, they should stand firm along with them and not flee. As Luffy tells his crew that he is going to go wild and that they should take care of everything afterwards, Zoro and Robin note that Moriah is barely in control of himself and that he's given up on reason in exchange for power due to his pride. Activating Gear Second, Luffy prepares his final battle with Moriah.
- Moriah awakens, still possessing everyone's shadows, the fight not being over yet.
- Moriah uses Shadow's Asgard to absorb 1,000 shadows from all around Thriller Bark into his body, becoming many times stronger and bigger.
- Lola, along with members of the Rolling Pirates, are exposed to the morning sun's rays, their bodies slowly being burned away without their shadows.
- The Straw Hats, along with Lola, aware of their current situation, do not retreat and stand against Moriah.
- Zoro and Robin note that due to his anger and pride, Moriah used Shadow's Asgard to exchange his control and reasoning for power.
- Luffy, telling his comrades he is about to act reckless, activates Gear Second to battle the powered-up Moriah.