Phantom 2040 , a cartoon mini-series from the same year as the game's release, serves as inspiration for the game's storyline. In the year 2040, the city of Metropia is plagued by crime, smuggling, and terrorism. The company Maximum Inc. has developed biotechnology that threatens to disrupt the natural world, leading to animal extinction and ecological damage. Evil businessman Rebicca Madison seeks to dominate Metropia and the world.
The gameplay follows Kit Walker, the 24th Phantom, as he battles his way through various challenges and adversaries to restore balance to Metropia. The game features multiple endings, adding a layer of replayability to its already engaging narrative.