A college freshman named Smith leads an ordinary life but begins to experience strange dreams that feel ominously prophetic. Navigating through the complex waters of sexual attraction, he finds himself attracted to his surfer roommate, Thor, and also to a mysterious girl he sees in one of his dreams. Smith discusses these dreams and his complex feelings with his best friend, Stella, who has her own romantic struggles with her aggressive girlfriend. Their meandering conversations about love, sexuality, and the peculiarities of college life are suddenly interrupted by a series of bizarre, surreal incidents that hint at a larger, more sinister plot unfolding around them.

Things take a turn when Smith attends a party, where he meets London, a free-spirited girl who draws him into an impulsive affair. Meanwhile, at the party, he observes a girl matching the one from his dreams and follows her obsessively, only to witness her mysterious death. He is now convinced that his dreams are linked to reality, embroiling him in a conspiracy that involves secretive cults and supernatural phenomena. As Smith becomes more deeply entangled in these enigmatic events, the lines between dreams and reality blur, leading him and his circle of friends into danger and uncertainty about the fabric of their very existence.