Bomber games was also send a C&D for remaking Streets of Rage, and had to shut down.
http://www.bombergames.net/sorr_project/
Also, are you actually serious because it's hard to tell.
All content you submit (allegedly) becomes property of graalonline. Additionally, since graalonline would be hosting your server and using it to turn a profit, franchises..no
Then again, quite a few servers blatantly advertise and use copyrighted content, so..do whatchaa wanna?