"Future's Folktales" is a science fiction anime series set in a distant future where humanity has colonized multiple planets across the galaxy. The story revolves around a young protagonist, Kaito, who discovers an ancient artifact known as the "Folktale Compass" on his home planet, Terra Nova. This device is said to hold the power to rewrite reality by accessing the collective myths and legends of countless civilizations. However, the Compass is fragmented, and its pieces are scattered across the galaxy, each guarded by powerful entities or hidden in perilous locations.

Kaito is joined by a diverse group of companions, each with their own motivations and backstories. Among them is Lira, a skilled pilot and former soldier haunted by her past; Zeno, a rogue archaeologist with a deep knowledge of ancient cultures; and Mei, a mysterious girl with a unique connection to the Compass. Together, they embark on a journey to retrieve the fragments, facing challenges that test their resolve, teamwork, and understanding of the universe's interconnected history.

As the group travels from planet to planet, they encounter various civilizations, each with its own myths and legends that tie into the Compass's power. These encounters often reveal deeper truths about the nature of reality, the origins of the Compass, and the consequences of wielding such immense power. Along the way, they are pursued by the Galactic Dominion, a militaristic regime seeking to control the Compass for its own purposes, and the Void Cult, a fanatical group that believes the Compass will bring about the end of the universe.

The narrative explores themes of destiny, free will, and the cyclical nature of history, as Kaito and his companions grapple with the moral implications of their quest. The series balances episodic adventures with an overarching plot, gradually unveiling the Compass's true purpose and the role each character plays in the unfolding cosmic drama. By the end of the series, the group must confront the ultimate choice: whether to use the Compass to reshape reality or to let the natural order of the universe prevail.