Phantom Brave: The protagonist of Phantom Brave is a 13-year-old girl named Marona. Having lost both of her parents at a young age, Marona lives on Phantom Isle in the oceanic world of Ivoire with a phantom named Ash. While he was still alive, Ash worked alongside Jasmine and Haze (Marona's parents) as a Chroma, a sort of bounty hunter or adventurer for hire. On an assignment that brought the trio to the Isle of Evil, a fragment of a malevolent being known as Sulphur attacked the group, mortally wounding them. Using the last of his life energy, Haze attempted to revive the party after the battle; however, there was only enough life left in him to bring Ash back as a phantom. Haze and Jasmine's dying wish was for Ash to watch over their then infant daughter Marona.

As far as the game is concerned, Marona is the only one able to see Ash in phantom form. This is primarily because of her unique ability known as "Chartreuse Gale". This ability not only allows her to see and interact with phantoms, but bind their souls to various objects to grant them a temporary body, referred to in-game as "Confine". Using this power she can summon Ash and other phantoms to the world of the living to aid her in her own endeavors as a Chroma, similar to the work done by her late parents. Because she possesses the ability to see and speak with the dead, many assume that she is either controlled by or cooperates with evil spirits, and are afraid to even interact with her, much less employ her for Chroma work. Also; in the early portions of the story, people who offer Marona employment would rescind any rewards upon completion once they discover that she was the fabled phantom-possessed Chroma.

Soul Nomad & the World Eaters: At the end of a long war-shattered age, one man brought all the countries in the Continent of Prodesto together under his rule: Lord Median the Conqueror. Though only one man, he became renowned throughout the world for his heroism. However, within ten years, the empire Lord Median had created collapsed with the death of his son, quickly followed by his own death. With no apparent leader, the continent collapsed once more into civil war. Fifteen years later, Lord Median's daughter had proven herself as a true leader, and convinced the remaining countries to form peace treaties, establishing peace once more.

This peace collapsed 50 years later, however, when the "Master of Death", Gig arrived with three giant beings known as World Eaters under his command. They quickly devastated the land annihilating entire nations in a matter of days, and it wasn't long before nations began abandoning their alliances and allying with the World Eaters in an attempt to save themselves.

When things looked their darkest, Layna gathered up what remained of her forces and made a direct assault against Gig, a battle which apparently killed both of them. With their leader gone, the World Eaters fell silent, apparently having gone to sleep, remaining as monuments of the destruction that occurred.