phantasy vs dream

phantasy and dream both are nouns.

Word	Noun	Adjective	Verb	Adverb
phantasy	Yes	No	No	No
dream	Yes	No	Yes	No

As nouns, dream is a hyponym of phantasy; that is, dream is a word with a more specific, narrower meaning than phantasy:

Other hyponyms of phantasy include pipe dream, fantasy life, phantasy life, fairyland, fantasy world, phantasy world.

phantasy (noun)	dream (noun)
imagination unrestricted by reality	a series of mental images and emotions occurring during sleep
something many people believe that is false	imaginative thoughts indulged in while awake
fiction with a large amount of imagination in it	a fantastic but vain hope (from fantasies induced by the opium pipe)
	a state of mind characterized by abstraction and release from reality
	a cherished desire
	someone or something wonderful

phantasy (verb)	dream (verb)
	have a daydream; indulge in a fantasy
	experience while sleeping