In these lines, Beowulf is basically standing in front of a group of royals, namely King Hrothgar, introducing himself as a great man, capable of the impossible. He uses his uncanny ability to manipulate words, which in turn impresses his audience even more so than before.
Beowulf is an epic hero full of virtues. As a warrior whose reputation has been spread all over the kingdom, Beowulf is before Hrothgar to offer his sword, shield and armor to fight the evil creature that darkens the night with courage. It is of importance to mention that an epic hero's traits include bravery, loyalty, strenght and the capacity to put his life in risk for others. The beauty of his armor is also a reflection of the predominant role that precious metals had in the age, equipment worth the reputation of Beowulf. Additionally, his fame owes a lot to his noble family.