One stormy night, a video game character, Video Man, is brought to live when lightning strikes a video game console at a junkyard. A fire also starts at a nearby building.
Peter, Angel, and Bobby are strolling in the park when they are alerted by the sirens of a fire engine. They assume their superhero identities: Spider-Man, Firestar, and Iceman respectively. While Spider-Man saves a fireman from the collapsing building and Firestar extinguishes the raging fire, Iceman is alarmed to find that his powers stopped working. Firestar asks if Iceman had ever experience this abnormally before. Iceman does not recall. Spider-Man suggests they use the “memory probe” at the Empire State University to find out more about the origin of Iceman’s mutant abilities. Maybe they can learn the cause of Iceman’s temporary loss of his abilities.
Bobby developed his abilities at a very young age. His parents did not know what to do and thus kept his powers a secret from the public. Because of this, Bobby kept ot himself at school. His nerves got the better of him when he asked Judy to dance with him at his high school dance, causing an indoor snowstorm. Bobby is determined to learn how to control his powers and he practiced as often as possible.
At a party at Judy’s house, Bobby wanted to impress Judy by fixing the refrigerator so she can have ice for the drinks. Although he was able to focus and create ice cubs, he is unable to fully control his powers and fills Judy’s house with ice.
Eventually, Bobby is able to control his powers. But he is afraid to show the world his abilities. One night, he rescues a girl from a burning house. A group of mean see the fire and approach them. Instead of thanking Iceman, they accuse him of starting the fire because he is a “freak”. Iceman quickly takes off.
Shortly after, he is contacted by Professor Xavier. Iceman joins the school, along with Angel, Beast, Marvel Girl, and Cyclops. There they learn that their mutant powers are controlled by their thoughts.
Bobby is enticed by the “handsome reward” put out by the Daily Bugle for the capture of Spider-Man. Bobby thinks he will be called a “hero” for capturing Spider-Man, deemed to be a public menace. Iceman meets Spider-Man for the first time. Spider-Man defeats Iceman but plans to show Iceman that Jonah Jameson is not a man of his word; the reward is a scam. Iceman stages Spider-Man’s capture, only to find that Jameson had no intention of issuing a cash reward.
Bobby is getting tired from the mental probing. The three friends are no closer to solving Bobby’s dilemma. Meanwhile, Video Man is feeding on electricity and wrecking havoc. Spider-Man, Firestar, and Iceman encounter Video Man. Iceman loses his powers again after being struck by Video Man. Somehow, Video Man gains control of Iceman’s powers and uses it to freeze Firestar.
Video Man retreats via the electric lines into the Daily Bugle building. It disrupts Jameson’s television broadcast. Spider-Man, Firestar, and Iceman arrive to find Video Man had absorbed Jameson. Video Man also absorbs all of Iceman’s mutant abilities, and drains Firestar’s powers.
With the help of their computer, Peter, Angel, and Bobby deduce that Video Man is most likely to attack the power station at Emire State University next. Powerless and dejected, Bobby opts to sit this mission out. Spider-Man and Firestar leap into action.
Video Man brings other video game characters to life at a nearby arcade. While fighting, Spider-Man has an epiphany about what is causing the loss of Iceman and Firestar’s mutant abilities.
Meanwhile, Bobby figures out that Jameson is trapped inside the game console that Video Man came from. He rushes to inform Spider-Man and Firestar. Spider-Man tells Bobby that Video Man is feeding off the electric impulses of a mutant’s brain, which is stronger than that of a normal human brain. Thinking he can “trick” Video Man into returning him his powers, Bobby gets Video Man to electrocute him. But Iceman is zapped into the game console instead.
Spider-Man and Firestar trick the other video game characters into attacking Video Man. The video game characters destroy each other. Iceman and Jameson are freed, and Iceman and Firestar’s powers are restored.