Of Dreams and Magic: The Shared Dream is a cooperative board game for 2-4 players. In The Shared Dream, players take on the role of Anima, special people who can make their dreams (and nightmares) real in the waking world. All of the players have awoken to find that they all had the same dream and parts of it (good and bad) are coming to life. The players must re-experience their shared dream in the waking world while avoiding or destroying the nightmarish creatures that have sprung from that same dream.

In game terms, the players must follow the instructions on the chosen "Shared Dream" card in an attempt to prevent the nightmares from that dream from spreading to the innocent sleepers of the city. This generally includes traveling through the city to find clues, destroying shadows and reavers, and taking on a nemesis born from the shared dream.