Sagnavaka is a monthly event by Þjóðdansafélag Reykjavíkur (the Reykjavík Folk Dance Association) hosted at Ægir bar since March 2023. The Sagnavaka is a circle-dance evening where dance ballads are sung and danced. After the dance the rest of the evening is spent singing.

Usually a new ballad is introduced for every event but at Menningarnótt popular ballads from previous events will be performed.

Today, the Sagnavaka is an integral part of the Icelandic folk arts scene that no one interested in folk dances and music should miss.