The recently revealed State of Play showstopper God of War Laufey is the upcoming third game in Sony Santa Monica's Norse Era, serving not as a prequel but as a continuation of the saga running in tandem with the first game, and PlayStation is handing out the green light to play Laufey without knowing anything about its predecessors.
Obviously, PlayStation is the expert on its own games – and has a commercial interest in making its new releases look approachable – but I'm gonna go ahead and say you should probably disregard its guidance here and just play 2018 God of War and God of War Ragnarok before Laufey.
In the FAQ section on the official PlayStation website, Sony says "God of War Laufey can be enjoyed completely standalone," but even the publisher itself can't deny the status of the previous two games. "To fully appreciate the world and characters, players should play both God of War (2018) and God of War Ragnarök – both of which are available on PlayStation 5 and PlayStation 4 consoles, and on PC." (Laufey, however, seemingly won't come to PC, just like every other future, major, first-party, single-player PlayStation game.)
That is the way. As hyped as I am for God of War Laufey – and I really am excited – you'd be doing a disservice skipping the other games, both from a narrative perspective and simply because they bang. Chiefly, though, new protagonist Faye's journey through the the afterlife of the gods, Everwhen, will surely feel more impactful if you understand the weight of her relationship with Kratos and Atreus, which serves as the emotional bedrock of the first game and is a major narrative thread in Ragnarok as well.
As if I haven't already pitched you a lot of God of War to play, I'd also make the argument that the old Greek games are worth playing ahead of God of War Laufey if you have the time. They're not nearly as crucial as the Norse games, but playing them will definitely add some color and history to the world, and to Kratos, and give you an added layer of appreciation for Laufey's more acrobatic fighting style.