Honestly, I've been combing through 'Crimson Legacy' forums for months, and nobody has a solid theory that fits all the clues. The amulet first shows up in Volume 3, Chapter 17, described as 'cold to the touch even in summer heat.' That detail feels important, but later, when Emily channels magic through it during the siege of Lorian, the text mentions a 'warm, golden glow.' So which is it? The inconsistency drives me nuts.
Some readers think it's a soul anchor from her ancestor, the first Archmage, which would explain why the lich-king is so obsessed with capturing her. But if that's true, why does it react to demonic energy in the crossover arc? I'm leaning towards it being a forgotten keystone, part of a larger set. The author drops hints about 'seven pillars' in the world's lore, but we've only seen two artifacts so far. I'm convinced the amulet's purpose isn't just to protect her—it's to activate something, maybe a failsafe against the Voidspawn the series keeps hinting at.
My pet theory is that it's actually inert until Emily's own latent power awakened it, which means its origin might be less about who made it and more about who it chooses. That would fit the theme of found family running through the series.