The last Age of the Wheel of Time, and the age before the First Age comes again.
Nothing is known about what happens in this Age or what the basic shape of its Age Lace is, unlike the Third Age (the battle to re-seal the Dark One), or the Second Age (the Age of Legends). It has been speculated that the First Age is some subset of the real world's history. If this is the case, then the end of the Seventh Age ushers in our reality. Given the history of our world, the Seventh Age may end in a cataclysm so great that man is reduced to hunting and gathering. This reduction to a "Stone Age↗" would allow some subset of the history of our world to take place, starting with hunter-gatherers and progressing to agriculture and early major civilizations such as Sumeria, Egypt, Greece, and Rome.
Figures of past ages and the One Power itself would be relegated to myth or forgotten entirely. This is seen in the main narrative. For example, Perrin Aybara and Mat Cauthon exhibit many aspects of the Norse gods Thor/Perun and Odin, respectively, particularly in the later books. Perrin mirrors Thor when he forges his Power-wrought hammer which glows and flashes with lighting when he strikes Shadowspawn. Mat mirrors Odin with his one eye, wide-brimmed hat, spear with ravens on it, his title of Raven Prince, and his skill in battle.
The One Power needs to be completely or nearly completely forgotten by the time of the First Age so that it can be rediscovered, possibly as a way to save humanity from the cataclysm that ends the First Age and ushers in the Age of Legends.