The world has become a vast conglomerate of islands of varying size and shape. This babbling universe is mainly populated with ruthless rogues, surly peasants and illiterate, petty lords. Their main concerns revolve around two fundamental rules: Eat and don't get eaten. For this new world has become infested with a terrible plague: omnipresent, monstrously famished, mutant creatures, are wreaking havoc - They are known as the Dragons. Gwizdo and Lian-Chu are two dragon hunters, but are a long way from being among the best. Their only real talents: the size of the hulking brute with the heart of gold, Lian-Chu, and Gwizdo's talent for scams of all and any shape or form. Their sole ambition: to buy a little farm where they can relax and raise mussels, a creature that is a lot less unpleasant and difficult to hunt down than dragons. A few islands away rises the fortress of Lord Arnold...

The small island resort town of Amity is trying to bounce back from the financial problems it had after becoming known as the site of shark attacks four years ago. Mayor Larry Vaughn is welcoming developer Len Peterson and his new resort to Amity. Two scuba divers are exploring the area where the Orca sank after police chief Martin Brody killed a huge shark four years ago. A shark shows up and kills the two divers, but not before one of the divers takes a close-up picture of the shark's eye, and sometime later, while a mother is driving a boat that's pulling her water-skiing teenage daughter, the shark kills the daughter and causes the mother to accidentally blow up the boat, then a killer whale is found on the shore with a huge bite on it. After Brody sees this, he knows there's another huge great white shark in Amity's waters, but Vaughn and Peterson explain these attacks away as non-shark accidents...

Wayne Szalinski is your average "nutty scientist", working on a top secret machine which miniaturizes objects. When it unexpectedly starts working, he's so amazed he forgets to tell his family to be careful. And when they wander into his lab...