Fantasy was an English progressive rock band established around 1970 in Gravesend, northwest Kent, UK. Initially known as Chapel Farm, the group included members Dave Metcalfe (keyboards), Paul Lawrence (guitar/vocals), and Dave Read (bass), along with drummer Brian Chatham and guitarist Bob Vann. They began their musical journey by performing cover songs but soon shifted their focus to original material. Tragedy struck just three weeks before they were scheduled to support Argent when Bob Vann fell from the cliffs near their hotel while attending a Melody Maker competition in Cliftonville. Paul Lawrence recalled that the band had gone back inside the hotel, worrying because it was Bob's 18th birthday and he had been drinking heavily. Tragically, Bob succumbed to his injuries while being transported to the hospital. Despite this devastating loss, the band decided to continue in honor of Bob. After Brian Chatham departed, Chapel Farm brought in guitarist Pete James and drummer Jon Webster from the local band Joy, rebranding themselves as Firequeen. They began to gain traction by supporting notable progressive acts such as The Edgar Broughton Band and Pink Fairies.

In spring 1973, after sending out demos of their original music (notably featured on the Russian bootleg release), the band signed a three-year contract with Polydor, contingent upon changing their name. "They didn't like Firequeen," Dave Metcalfe explained, "as it was too close to Queen, and they felt that Chapel Farm implied we were a country band." The name Fantasy was ultimately chosen, although Paul Lawrence noted, "We had no choice in the matter, and we hated it throughout our entire career. However, they were right in that the name does reflect the sound of our music."

Having secured the contract, Fantasy entered Chipping Norton Studios in May with producer Peter Sames, resulting in a ten-track album that would have appealed to fans of Genesis and Caravan. Metcalfe remarked, "We just couldn't break through that barrier of recognition. I don't think Polydor understood our music, and our management didn't seem to take us seriously enough." The label, which was enjoying success with Slade at the time, may have also perceived a lack of commitment since the band members held day jobs.

Originally titled Virgin On the Ridiculous, their album Paint A Picture was released in the autumn and featured much of their live set, including The Award, a tribute to their late guitarist Bob Vann. The album also contained the commercially-oriented track Politely Insane, which was written and recorded on the same day. After adding brass arrangements, this track became the single Polydor desired, though it did not achieve the sales figures they had hoped for. Politely Insane was coupled with the non-LP track I Was Once Aware.

Although disappointed by the lukewarm reception to Paint A Picture, Fantasy remained optimistic, believing their music required time to develop an audience. However, following a performance with Queen at the Marquee, they struggled to maintain a consistent concert schedule, causing any momentum generated by the album to wane. When the group returned to the studio in July 1974 for a follow-up, again with producer Peter Sames, they were initially enthusiastic. "From the moment we entered the studio," Metcalfe recalled, "we felt confident we had a significant album. Unfortunately, the atmosphere was not conducive, particularly due to the producer's lack of support." Polydor ultimately rejected the recordings, leading to Metcalfe's departure and the quiet dissolution of the band.