The same thing happened to me.
On the board there's a fuse with the word "F1" next to it. Im pretty sure your case is that the fuse blew. Twist the F1 fuse so that both parts of the fuse touch at the bottom. Once I did this, I turned on my Dreamcast to hear the VMU sound and that I could still pwn t3h n00bs (n00bz is a respected name) Marvel vs Capcom 2
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