Florenzo's Freak Show has been a permanent fixture in Garden Bay for nearly a decade, drawing crowds with its spectacular displays of the bizarre and supernatural. Behind the colorful banners and haunting melodies lies a prison of flesh and spirit—every performer is bound by magical contracts that cannot be broken, forcing them to showcase their supernatural "gifts" for the entertainment of paying crowds. From the fortune teller that can speak to the spirits of the dead, to the gargantuan a man that can't stop gaining weight —each performer bears their uniqueness as both blessing and curse. When several patrons mysteriously vanish after visiting the midnight showing of the carnival's most secretive attraction, the adventurers find themselves drawn into a web of exploitation and supernatural horror that lurks beneath the spectacle.

As the adventurers investigate the disappearances—perhaps posing as new performers, maintenance workers, or simply paying customers—they discover the true nature of Florenzo's operation. The charismatic showman uses ancient binding magic to entrap supernatural beings in magical contracts with hidden, terrible clauses that maintain his power over them. The performers, despite their terrifying appearances and abilities, are victims themselves, bound to Florenzo's will by magic that grows stronger with each passing show. The adventurers must navigate the carnival's twisted attractions while avoiding Florenzo's watchful eyes and those of his loyal enforcers. The investigation reveals that the vanished patrons weren't simply victims—they were specially selected for their unique supernatural potential, marked to become the next "exhibits" in Florenzo's collection. To free the performers and prevent more disappearances, the adventurers must find the source of Florenzo's contract magic and break it without triggering the deadly contingencies built into each performer's binding, all while facing the moral dilemma of what becomes of these "freaks" once freed—beings who have nowhere else to go in a world that would fear and hunt them.