One of my friends on Deviantart is making a fighting game based on internet-related media. According to him, 40 universes will be represented. Confirmed as characters are Karkat Vantas of Homestuck, Miku Hatsune of Vocaloids, Homestar of Homestar Runner, and Matsudoki of Yume Nikki. There are many, many more characters being planned and on the list, seen here, we can get a grasp as to how big this project is.
A Beta may be released once DBZSHONEN13, the maker of this project, finishes with the main 4 characters, the first 4 stages, and a boss are finished.
There are bosses and stages as well, and the storyline seems to go as such, copied from the teaser trailer here:
"The different worlds of the internet have been thriving for years... As the inhabitants of these worlds have entertained us for so long... whether it be a cartoon, comic, game or meme... Even through control or discord, there has been a force that keeps the worlds from clashing, keeping their problems to themselves.
But what if that order were to be broken..."
Speculated and confirmed characters, stages and bosses include:
Giant Enemy Crab
Gabe's Living Room
Updates, speculation, fanart, predictions and general screaming and excitement go here. I have a Deviantart account, so whenever there's an update, I will post it here.