The picture in the center is a representation of Hugin an Munin, thoughts and memory respectively, they are Odhin´s ravens on mythology and two important aspects of him as well as humanity. Odhin is the Nordic god of knowledge and wisdom between other many things and as such I guess he and he’s ravens represent a lot of what Asgardia will come to be.
The colors white and blue represent the division between space and earth as well as day and night , and the ravens are placed on the middle so we remember that earth and space just like day and night are not separated things but complements