This is "Track 53", a tune made on the Nintendo Korg ds-10. With a bpm of 36 and without delay, it's quite downtempo.
The song is made up of three parts. The first few patterns establish a melodic line in F major (till 0:54). Those patterns are then repeated with 2 or 3 additional voices (till 1:41). Then, the song evolves into something slightly different starting at 2:15 which coincides with the (slight) change of patches for the 2 main voices (kinda gives a different vibe to the tune). This third part is a bit too repetitive as you have 3 patterns going on a loop for too long (more than twice basically and in the same order).