You're off to a great start!
It seems like the song is nothing more than two melodies. The two melodies go decently well together. Some parts need to be cleaned up, though. Like 00:23 - 00:24.
Polishing aside, what this song really needs is some backup tracks. Something bass-y, at least. Bass notes give songs structure. Chiptune / Video Game songs simply aren't complete without bass notes that give the melody power.
I like the melodies. Blend them together a bit better and add some backup tracks and this will be a marvelous song.