Android 4.2 brought a nifty, albeit it somewhat useless, new feature called Daydreams. In a nutshell, Daydreams is just a screensaver, which might be useful in some situations - specifically on tablets. For the current time, though, there are only a few different stock options for Daydreams: clock, colors, Currents, Photo Frame, and Photo table. There are also a few apps out there that have incorporated the feature - like Beautiful Widgets, for example - further increasing Daydreams' usefulness.
Live Wallpaper Daydream, however, is a little different. It's simple in nature: it lets you use the currently-applied LWP as a daydream. No settings, no frills - just one function, and it does it well. You need only enable the feature in Daydreams, and away you go. When the Daydream activates, it will simply show your LWP without any icons, the status bar, or notification bar.
Live Wallpaper Daydream is free in the Play Store, but be aware there isn't an icon after it's installed, as the only way to access the new feature is inside the Daydreams options.