As it is written: “At Winter Solstice within the Year of the Scarlet Witch wise men shall gather to stand between Darkness and Light.”
The Scepter was created by the Lord of Spells, Azuth, sometime around the year 130 D.R. during his rivalry with Savras. The two battled for supremacy until finally Azuth won, trapping the Divine Spark of Savras within the Scepter. Naming it the “Scepter of Savras,” Azuth then carried it as a mark of office as Magister. Savras remained trapped within the artifact until 1358, shortly after the event known as the Time of Troubles. Azuth finally released Savras from his prison, allowing him to join the newly formed pantheon of Faerûn gods and goddesses.
The artifact’s sole purpose is to contain the Divine Spark of a god and any deity held within it would be left unable to manifest in any capacity on Faerûn. Non-divinities imprisoned in the Scepter would remain unaging, aware of the outside world but unable to communicate with anyone, until released; the longer such a creature was held, the more likely they would go completely mad. Thanks to some combination of the Wild Magic and Savras’s power within it, the Scepter was able to grant it’s owner magical powers, but only after it attuned to the new owner.