Simply put, 8bitone for the iPhone / iPod Touch is a "synthesizer and sequencer application to simulate sounds" from the 8-bit generation." No word yet on pricing or availability. Video after the break.
This is 8bitone, by Japanese devs Yudo, and it lets you arrange your own chiptune soundtracks on the fly. It's not a professional solution, of course, but hey, it's a program for your phone.[via Kotaku]
