Dreams and Nightmares received generally positive reviews from music critics, who mostly commended Mill's development into mainstream rap. Mill embarked on the Dreamchasers Tour for further promotion in August 2012, performing at 16 cities in the United States. Music videos were produced for all of the releases, while the lead single and 'Young & Gettin' It' both charted on the US Billboard Hot 100. ' Amen' was released as the lead single in June 2012, followed by ' Burn' and ' Young & Gettin' It' later that year, before ' Believe It' in early 2013. The dreams represent Mill making money as a performer, while the nightmares are based on coming up from his neighbourhood. Sessions were also held in Los Angeles and Miami, and multiple recordings were included on Mill's ninth mixtape, Dreamchasers 2 (2012). The recording took place from January to September 2012, including sessions in a studio bus on the Club Paradise Tour. Production was primarily handled by Jahlil Beats and Boi-1da, alongside the likes of Tone the Beat Bully and Key Wane.
The album features guest appearances from Kirko Bangz, Rick Ross, Nas, John Legend, Drake, Wale, and Mary J. Mill intended for it to be authentic and more cohesive than his mixtapes, having a stronger connection through both vocals and beats. Dreams and Nightmares is the debut studio album by American rapper Meek Mill, released on October 30, 2012, by Maybach Music Group and Warner Bros.