How does one even start when it comes to creating an 8 bit like sound? Do you just bit-crush the hell out of your original samples, or do you have a dedicated retro sound-bank to pull from?
That being said, reminds me of a tunnel/underground scene from a game more badass then Sonic. Really liking how much you mixed things up, and although I can't say I love your melody, your effects/pads/bass are just so well weaved together that I can't give this anything but a 5. Keep at it!
The actually process of making 8-bit sound is different than what I used in this piece. Most programmers sell VSTi plugins that automatically make the different waveforms most commonly heard in 8-bit music.
to make legit 8-bit music you need a waveform generator which produces a basic geometric wave that can be changed to certain frequencies (square, triangle, saw, noise etc.) from there it is just a matter of augmenting the sound you want into different channels.
I considered the most traditional foundation for musical from to be from the Famicom. the counterpoint goes in 4 channels (a pulse wave, square/2nd pulse wave, triangle, noise.) and that's all that sound designers had back in the 80's so you can imagine how creative they had to get with their music.
Sorry if that was long winded. I hope that answered your question!
Please contact me if you would like to use this in a project. We can discuss the details.