Taking place in modern-day Tokyo and featuring real-life locations such as Shibuya and Harajuku, the game centers around hostile beings known as Mirages who seek to harvest energy known as Performa from humans and are responsible for several disappearances. The story follows a group of teenagers who become allied with friendly Mirages, based on characters from the Fire Emblem series, and merge with them to become Mirage Masters. Under the guise of the Fortuna Entertainment talent agency, the Mirage Masters fight to protect innocent people from the Mirages and find out who is behind the attacks.