Phantom Act is about a young girl named Lilac. Lilac lives at Jacobs Ladder circus, where she performs and is dubbed as the 'Fairy of the Circus'. Her life is turned upside down whenever the strange young lord Kain Phuntom arrives to one of the Circus's shows in London, recruiting Lilac for a unknown task. Unbeknownst to her, Kain needs Lilac to protect the otherworldly realm of Assiah, a magical realm with strange and terrifying creatures, where Kain is ruler. Assiah is under the brutal attack of Faust, a treacherous villain that wants the entire realm to himself, and it's up to only Lilac to defeat him, possibly finding secrets to herself along the way.