Also, I was a bit confused by the term "fantasy console" so here's what I've been able to learn with some reading: it seems the PICO-8 is a kind of ultra-simple game VM with it's original implementation being in HTML/JS with access being sold by the creator[0]. At some point, the PICO-8 vm was ported by its creator to work on the CHIP computer, and now the PICO-8 VM is pre-installed on all CHIP computers[1].
What the OP link is for is an open source implementation of the PICO-8 VM in Rust. This isn't the only open source implementation of PICO-8.
[0] - http://www.lexaloffle.com/pico-8.php