Inguz is a very difficult Rune to reconstruct, it might be related to Proto Norse Inǥwaʀ and Old English Ing as well as Icelandic Yngvi .

Ingwaz might mean the God Freyr. Younger terms are old High German Inguin.

The Old English Rune poem talks about Ing as a heroic Ancestor of what today is Sweden with a wagon of royal decent. Yngvi and Freyr might be one and the same deity, but the names changed over time.

Snorri Sturluson refers to Freyr as one of the major Gods, who was popular and widely known. Freyr was a fertility God of weather, sunshine and the masculine principle in nature.