“What is experience?” asks phenomenology, so as to uncover the essential structure of experiencing, and founding experience, from which true and philosophically defensible thinking may be derived. “What is dream?” asks Maurice Merleau-Ponty in The Visible and the Invisible so that he may complicate the first question of phenomenology and sketch an absolutely non-trivial topology of the experiential field. A partial description of this topology will be the theoretical starting point of my reflection. From this point of departure I will embark on a phenomenological analysis of the concrete experience of dreaming and of falling asleep. On the basis of this analysis I will then follow the implications – backwards so to speak – to the consequences for the nature of Merleau-Ponty’s topology of experience. At the same time I would like to show how the phenomenon of dreaming and the imaginary has a central place in the description of the structure of experience, because without it we cannot give a description of the chiasm of the soul (consciousness) nor of the perceiving and the perceived body. I present dreaming as a phenomenon that unfolds at the blind spot of the waking self-concious consciousness and embodiment, and thus also as a specific basis (Stiftung) of Being, which is the concern of Merleau-Ponty’s phenomenology.