There are a several of different races to choose from on this forum, with maybe some more to add. Lets begin
Humans who live in the real world and can enter Dreamland when the sleep. When in dreamland they have powers to aid them in travel and defend themselves. This power comes when one conquers there fear of something in a nightmare. Some travelers are marked as heroes in dreamland some are marked as evil.
Human look alikes that live in Dreamland. They each just have a natural power with them. They are able to transform into a monster like appearence if they so choose. Most demons are feared in dreamland. But not all should be feared some of them actaully have hearts.
Powerful beings that feed off of fear from people's nightmares. They rule over a certain kingdom. They are evil and hold no mercy for the weak. They will destroy anything in there path. These spots will be limited. They are unable to leave Dreamland.
Travelers who are unable to wake up from dreamland. They continue to walk in dreamland lost and trapped. Some wished to be like this, other wish they can return to reality.
King of Dreams:
Beings that rule over pleasant dreams, they rival Nightmare lords. Other info is unkown at the moment.