Femto VM is a compiler that translates a Forth-like language into a compact bytecode, wich can then be run using the interpreter that runs on the Master System.

The interpreter is not yet complete; it already reads the joysticks, moves sprites around and draws to the background map, but there’s still some things to implement, like tile loading and sound.

http://www.smspower.org/forums/viewtopic.php?t=11208