Blood of the Firsts

In the beginning, there was one created of each of the nine Prime species, and each was given a stone containing the power of their people, the Míresgal. The Firsts are remembered with reverence by all of a species, and some immortals still walk the Realm.

While some of each species have low abilities with the powers of their people (mortals especially who have lost the touch for it in their short lifespans), those with the Blood of the Firsts retain their innate magic with the element closest to their people. Some know of their heritage in regards to the blood, but many more do not, and the awakening of their magic comes as quite a surprise.

Vanir have an innate ability of Eternity, in which they can see time in their own timeline as a continuum.
Night Elves have the innate ability of Destruction, which was used to make great works, to bring the waning of the year, and the harvest with it, and also, you know, destruction, when called for.
Day Elves have the innate ability of Creation, so naturally they are tenders of all things green and living in their forests.
Gods have the innate power of time, and the ability to travel through it.
Fire Elementals obviously have the innate ability to manifest and control fire.
Water Elementals of course have the innate ability to manifest and control water.
Giants have an innate command of the element of Air, and while their direct magic was lost long ago to the the ages and their solitary nature, they do have a mastery of influencing the weather in their lands.
Dwarves have innate powers with the element of earth, but not particularly overt since the early generations. These powers are mostly seen in the craftsmen abilities of their race.
Humans, although generally non-magical, do have one power they don’t even know of in any real way. Spirit (otherwise known as luck).