Update []: ModRetro has gotten in touch to confirm that it is "working directly" with FPGAzumSpass on M64 and "plans to make large contributions to MiSTer in the coming year."
Original Story: ModRetro, the retro hardware maker founded by Palmer Luckey, has already released one FPGA-based Nintendo clone on the market in the form of the Chromatic, and it's currently working on the M64, a system that replicates the performance of the N64 using FPGA technology.
Luckey has shared footage of a prototype in action, and FPGA expert MisterAddons / Porkshop Express has spotted that it appears to be running FPGAzumSpass's excellent N64 core.
As noted by someone in the replies, the N64 MiSTer core's license allows commercial use, so there's nothing untoward about ModRetro using it. However, it's still interesting to note, as FPGAzumSpass's core is generally regarded as being excellent – so a decent level of performance can be expected from the M64.
Luckey – whose political leanings and involvement in the arms trade have made him a polarising figure – has already confirmed that the M64 will cost $199 for "early adopters".
In his original tweet, Luckey explains why the M64 is a good choice when compared to original hardware, before confidently claiming that "it will be the best way to play at any price, yet happens to be more affordable than inferior options."
This appears to be a not-so-subtle dig at Analogue's FPGA N64, the Analogue 3D, which has been delayed until later in the year.
Analogue is one of the leading companies in the realm of FPGA systems, having already released the Nt Mini (NES), Super Nt (SNES), Mega Sg (Genesis), Analogue Duo (PC Engine / TG-16) and Analogue Pocket systems.