The story takes place around a city called Zey Meruze, that resembles Venice in that it is crisscrossed by water channels (with Fairies offering a gondolier service.) However, Meruze also has portals to other dimensions, called "Alterworlds" where, for some reason, humans can't stay for more than a short time (they eventually are magically transported out.) Iris (who in this game is still an amateur alchemist) and her friends Edge and Nell work as "raiders" for the Raiders Guild, an organization...