The Hunter's Dream is a mysterious dream-realm created by the Moon Presence and managed by Gehrman the First Hunter to help Hunters kill te Great Ones.
The Hunter's Dream is an otherworldly replica of the Abandoned Old Workshop under the Healing Church Workshop. Unlike the Abandoned Workshop however, the Hunter's Dream is much more well-kept and operational.
Created by Gehrman and the Moon Presence, the Hunter's Dream was originally intended as a way to ensure there were always hunters to fight the beasts. Gehrman eventually realized that the Dream was bound to his consciousness, with each requiring the existence of the other, and nearly went mad from the revelation of never dying yet serving an eternal cause.
After defeating Mergo's Wet Nurse, the dream begins to fall apart literally, with the main building catching on fire as the obvious sign of it. Gehrman offers to release the Hunter from the dream, and become one of those "who no longer dream," such as Djura and Eileen. If the Hunter refuses Gehrman's offer and defeats him, the Moon Presence descends and names the Hunter the new head of the Hunt, taking Gehrman's place. If the Hunter consumes three Umbilical Cords, the Hunter will realize the conclusion Gehrman came to, and reject the Moon Presence, fighting it for control of the Dream and becoming a Great One at the end of the battle.