Is it possible? of course its possible.
Actually, I have no idea how you would get involved in the fedora project itself.
As far as developing software on a free software project. I'm currently work on one and looking for more developers. It happens that it doesn't work so well on Fedora 16 (server compiles and runs, client needs the fonts specified manually,map editor no longer works.)
1. Go to www.wograld.org
2. Download the arch client and server from the CVS
3. Following the directions on the admin-install, compile and run the software.
4. If you have any problems, post to the discuss mailing list.
5. Sometimes I can be found on freenode in the #crossfire channel or on #gridarta
6. write a fix so it works on the latest version of fedora.
7. send me the patch.
8. continue to work on wograld, rewrite the client in java, create a patch so gridarta can be used as a wograld map editor etc.
9. I offically add you to the project.
10. You will now officially be a free software developer for software that is run on fedora.