It is weird that there isn't a fantasy universe that has elves, orcs, dwarves, faeries etc. who are actually black. amirite?

Some wizards in Harry Potter are blacks... and Asian. But I'm guessing you're talking about creatures instead of humans, huh?

Actually its quite possible that there is another universe where such creatures exist, in fact, you thinking about it probably made one exist. lol through the wormhole with morgan freeman

The Mr. T mohawk grenades in WoW makes everyone black

Warcraft has night elves which are like the black version of high and blood elves; and the Mag'har orcs, which are brown instead of green.

You don't play enough games; I'm still messing with DragonAge: Origins and there are black elves and dwarves.

There's a reason for that...

Lord of the Rings orcs are black. As for the other creatures, well, they're different species, maybe it's genetically impossible for them to have a variety of skin colors.