It may not be the first M249 Airsoft Blowback, but this custom gun made by G. Company would sure make some gas blowback fans happy as this will not a tethered type like those HPA drop-in kits for the M249 with the A&K M249 para as the donor body for the custom work. The first video shows it firing M4 gas magazines, which some wouldn't want since it there will be a huge limitation in ammo. The M4 gas magazines are the WE variety. But the second and older video shows a box magazine and we don't know its capacity however.

For now just enjoy the video and you can enquire at G. Company for more details.

Hat tip to Public Enemy on this.