I got a copy of Virtua Racing for megadrive which just shows a black screen when you turn it on, after the licensed by Sega splash screen. You can hear music in the background, but nothing else.

The cart is clean, in fact it was brand new old stock from the store, it looks as fresh as the day it rolled out the factory. But, I'm guessing the special graphics chip inside the cart has died, I hear that is a common problem with this game.

So, any suggestions on how to fix it, like reflowing the chip or something? Or is it basically dead?

It's dead Jim.

I would suppose if it is the chip it could be replaced but in the end is it worth the hassle?

I took it back to the store and got another copy, which actually works. Happy end!