Notes: this world is a common one in various fictions. See if you can figure it out (as with all legends, the title is an important clue)!
In the vastness of the cosmos, through the mists of alien nebulas and whirlpool galaxies, there was a planet. At first glance it was a very simple planet-just 71% water, 29% land, deserts, ice fields, greenery, blah blah blah. But upon a closer look, there was more to this planet than met the eye.
After eons, during which slimy aberrants squirmed through the sea, a few journeyed to the land, where a chosen elite unified with the spirit of the land, becoming Dragons. Under the reign of these scaly masters, they forced all other races to pay homage to them. It was a sad time, full of strife and chaos. Their time of terror lasted millions of years, and the earth trembled under their clawed feet.
The Dragons were so mighty that the affairs of their empire's sudden destruction is still shrouded in mystery. Some sages believe that Thyr'ian, a shadowy thieves' guild, raided the Dragons' nests and destroyed their eggs. Others say that the judgement of divinity, in the form of an ancient stone being from the far reaches of the otherworld, punished them for their sins. Whatever happened, the time of the Dragons was over. In their place, the Minma grew to take their place.
The Minma were commonplace. Smarter and faster than the Dragons, these small creatures had been used for cheap labour. Now, they slowly started to gain an edge, because of an innate magical resistance to the ravages of frost and fire. As the Minma spread their empire, they pieced together magical secrets, calling on dark patrons and unlocking the secret of permanent mutation. With these new abilities, the Minma diversity exploded, creating new subraces out of their common genetic data. Soon, pure Minma had gone extinct, leaving the subraces as their legacy.
The greatest of these races were the Elves. Physically weaker than the other Minma, the Elves relied on skill and smarts rather than brawn. Building grand cities and towers, they were strong enough that when the frost god attempted to destroy all life, they not only survived, but thrived with the thinning of competition. After that, the Elven civilization really kicked off. Splitting off into many different kingdoms, subraces, and religions, they are the true ruler of this world. However, ancient divides threaten to tear their civilization apart, not to mention rumours of Warforged rebellions, a mushroom-cloud apocalypse brought about by the Elves’ meddling with magic, or a great destruction sent from heaven like what killed the Dragons, this time in the form of fire. Whether the Elves can usher in a new age of prosperity remains to be seen.