"To this day ODB and Mariah may still be the best and most random hip hop collaboration of all time", citing that due to the record "Fantasy", "R&B and Hip Hop were the best of step siblings." The song has been featured in multiple films and television shows. In the 1998 film Rush Hour, the character Soo Yong sings the song while it plays on the car radio, shortly before her kidnapping. In 2011, the experimental metal band Iwrestledabearonce used the song at the beginning and end of the video "You Know That Ain't Them Dogs' Real Voices". Indie artist Grimes has called "Fantasy" one of her favorite songs of all-time and has said Mariah is the reason there is a Grimes. In 2019, Carey released a video of her doing a dance to the 'Bad Boy Fantasy' mix on TikTok, thus leading the dance to become another famous TikTok dance challenge, preceding the Obsessed Challenge earlier in the year. A remixed version of the song, with additional vocals from Jodie Comer, features prominently as part of the score and the plot for the 2021 film Free Guy; in the film, Jodie Comer's character Molotov Girl catches the attention of Ryan Reynolds's character Guy as she is singing the song, thus catalyzing the rest of the story. Reynolds, who produced and starred in the film, stated that, "I am a huge Mariah Carey fan [...] It really was one of those weird things that happened naturally. I write to music anyway, and I initially put a song in the script by The Outfield called "Your Love". It’s an old '80s tune. It's great, but it just didn’t have that epic scale I was looking for. And then "Fantasy" just came on my playlist and everything clicked in". "Fantasy" was also included on the 2021 edition of Rolling Stone magazine's list of "The 500 Greatest Songs of All Time" at number 419. Upon release, "Fantasy" also won many prestigious awards throughout the music industry in 1995 and 1996. At the Blockbuster Entertainment Awards, the song won the award for "Favorite Single." Additionally, the song was awarded the "Pop Award" honor at the 1996 annual American Society of Composers, Authors and Publishers (ASCAP). Carey won the "Dance Record of the Year" award at the "National Dance Music Awards" in 1996. "Fantasy" won two awards at the 1996 "Winter Music Conference National Dance