Key Takeaways
1. Palmer Luckey founded ModRetro in 2023 and is seeking $1 billion in funding for his retro-gaming venture.
2. The ModRetro M64 retro gaming console will launch in spring 2026, featuring an AMD FPGA chip and compatibility with existing N64 cartridges.
3. The M64 promises pixel-perfect accuracy, low input lag, and 4K resolution capabilities, with a transparent design for third-party developers.
4. The early-bird price for the M64 is set at $199, matching the original launch price of the Nintendo 64 in 1996.
5. ModRetro’s M64 undercuts competitors, being $70 cheaper than Analogue’s base model and $100 less than its Limited Edition translucent version.
Palmer Luckey, the creator of Oculus who sold his VR company to Facebook for $2 billion, is now focusing on his retro-gaming venture, ModRetro. This move could lead to significant earnings for him. Currently, he is leading Anduril, a defense technology firm.
Funding Talks
As per Financial Times, Palmer Luckey founded ModRetro in 2023 and is currently in discussions to secure $1 billion in funding. This is a considerable increase from the $19 million that the retro handheld company has raised to date.
Upcoming Product Launch
In line with this news, ModRetro is set to unveil its next product, the M64 retro gaming console, in spring 2026. Production is reportedly in full swing, and initial demos of the console are already being showcased at retailers like GameStop in New York.
ModRetro first gained attention with its Chromatic handheld, inspired by the Game Boy, which sold out quickly and received accolades for its sturdy design. Now, the company is making its mark in the home console sector by recreating the Nintendo 64 with updated technology.
Specifications and Features
The ModRetro M64 is equipped with an AMD FPGA chip that operates a modified version of the open-source MiSTer N64 core. This setup allows gamers to use their existing N64 cartridges without facing emulation issues or delays. However, the exact cycle-accuracy of the M64 will be assessed at its launch in spring 2026.
At this moment, the M64 is promising gamers pixel-perfect accuracy, low input lag, and the capability to play Nintendo 64 titles in 4K resolution through HDMI. Moreover, the transparent M64 will be accessible for third-party core developers, expanding the potential library of arcade games and shooters.
Competitive Pricing
ModRetro is strategically setting the price of the M64 to attract consumers. The early-bird price for the ModRetro M64 is fixed at $199 for those on the waitlist on the company’s website. This offer has now been extended to all early orders, which is noteworthy given it matches the launch price of the Nintendo 64 in the U.S. back in 1996.
The console will come in four see-through color options: Arctic White, Jungle Green, Grape Purple, and a community-requested Atomic Red variant, allowing retro enthusiasts to view the internal components. It will also include a see-through replica of the original three-pronged Nintendo 64 controller.
Interestingly, ModRetro’s M64 is set to beat Analogue’s retro N64 FPGA product in pricing. Analogue’s base model launched at $249.99 after several delays. Currently, due to tariffs, the standard Analogue 3D retails for $269.99, while the translucent version, priced at $300, is sold out.
In a direct comparison, ModRetro’s M64 is proving to be a competitive option, as its starting price is $70 less than the base model of the Analogue 3D and $100 cheaper than Analogue’s Limited Edition translucent series.
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