When ModRetro announced the M64, they said that it would eventually be completely open-sourced, allowing their customers to tinker to their heart's content, which went down really well with their customer base. So far they've open-sourced the schematics side of things, but we have to wait a little longer for the firmware to be open-sourced; that said, it's not stopping Reddit user /fulviov because they have just built a whole new unofficial custom firmware for the device named "OM64".
This was built purely from ModRetro's published schematics and aims to be a full replacement for the stock M64 firmware, and in fulviov's eyes, it actually enhances the console, even if it's not technically finished yet.
OM64's Features (So Far)
- Fully graphical loader with skins and themes. The loader runs as a separate core, so it doesn’t eat into the FPGA resources available to the actual console cores.
- Multiple video output options. Choose between 720p, 1080p, and 4K, with Buffered, Low Latency, and VRR video modes.
- Wi-Fi networking. Including support for OTA updates.
- Bluetooth gamepads. Duh, obviously.
- New Gameboy and SNES core to test core switching and the platform in general.
Credit: fulviov
And yes, you're reading that right; it doesn't yet have a Nintendo 64 core, but the developer is working on it, and it should be "ready soon". Once it's ready, that'll polish off the custom firmware enough to make it available to download via their official Ko-Fi page.
The firmware so far is experimental, and it will likely be experimental when it eventually launches, and anyone downloading this open-source firmware should tread carefully because yes, it could indeed brick your M64; the developer even states that in their FAQ's. Though you can revert back to the M64's original firmware if it isn't up to your standard.

It's also worth noting because I know a lot of you appreciate being informed that this custom firmware's development was assisted by the use of AI, more specifically with Codex and Claude's help. The developer stated that: "I use these tools to speed up development. If you’re fundamentally opposed to AI being used in software development, then this firmware probably isn’t for you". At least he's honest. There is now official news as to when this will be available, but it will be available to download once the N64 core is ready and the firmware is "stable" enough to be tested publicly.