Palmer Luckey’s retro gaming venture seeks $1 billion valuation as FPGA-based Nintendo 64 clone launch nears — ModRetro's M64 console plays original N64 cartridges, supports 4K resolution

Palmer Luckey's ModRetro is seeking a $1 billion valuation as it prepares to launch the M64 console, an FPGA-based Nintendo 64 clone that supports original N64 cartridges and 4K resolution. Unlike traditional emulators, the M64 replicates the original hardware's chip logic for higher accuracy and lower latency. The console is priced at $199, matching the original N64 launch price, and is expected to launch in spring 2026 with multiple color options and a recreation of the N64 controller. With a $70 price advantage over its competitor, the Analogue 3D, ModRetro aims to make a mark in the retro gaming market.