The set takes place in a plane known as Ulgrotha. Homelands begins 600 years ago, during a war between the Tolgath, planeswalkers who desire knowledge, and the Ancients, wizards who are prepared to be cruel to defend 'their' mysteries. A Tolgath planeswalker named Ravi used an artifact called the Apocalypse Chime, given to her by her master, to destroy all life and mana on Ulgrotha. The plane became a prime battleground for wizards, until the planeswalker Feroz happened upon it. He wished to protect the plane, so he, along with the planeswalker Serra, created a ban to keep other planeswalkers out. Feroz died in the process, and Serra died soon afterwards.

The events surrounding the set begin many years after Feroz's death, when his ban begins to fade. The residents of Ulgrotha (now known to its inhabitants as the Homelands) are at war with one another.