It's a fairly relaxed jam, but there are some heavy restrictions regarding the resolution, input and color count. If you like the gameboy and you're fine with those restrictions, then sure.
poltergasm
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There's no enforcement on the methods you employ as long as it follows the rest of the rules and looks like a gameboy game. One thing worth being careful of with scaling vector art is it leaves traces of anti aliasing which will put you way over the 4 color limit. Also, it shouldn't just "look like" 160x144 - the gameplay area needs to be 160x144. Obviously you can scale it up - x3 or x4 is a good spot. But you can't make the resolution 640x576 just because it's 160x144 multiplied by 4 if that makes sense.
Wanted to necro this thread because 2 years later and it's still an issue. I mean, it's not even remotely useful information: it's just noise. Look at this. LOOK AT IT. I know someone joined because I can see the numbers going up on the main page. This is completely unnecessary. I don't like complaining, but damn. 
The page will be updated closer to the start date, but you can take a look at previous jams to get an idea: /jam/gbjam-13
There's also a rules and FAQ here: /jam/gbjam-14/topic/6517108/rules-and-faq
My personal favourite was WonderBoy III: The Dragon's Trap. The characters are those classic, big eyed sprites that makes me immediately think "Master System". It was a pretty cool game too. You could turn into different animals which behaved in different ways. In a sense, it was a metroidvania as you'd need to unlock certain characters to reach new places. But yeah, definitely one of my biggest inspirations.
Alex Kidd in Miracle World had its charm too. It looks simple, but it was brutally difficult. It actually came baked into my Master System and would run whenever I started it up with no cartridge.
Personally I'd avoid treading on existing IPs. I doubt the company who owns it will come after your jam game, but it's still better to use original work. You may even want to expand on it after the jam and sell it. You can't do that if you're using copyrighted assets in a universe that is not your own.



















































































