Current world models for explicit world simulation typically follow two distinct pathways: (1) video generative models (e.g., Sora), which simulate realistic appearances but fail to preserve 3D consistency; and (2) 3D generative models (e.g., Marble), which generate geometrically consistent scenes but often yield static, less realistic observations. We present AEON, a unified framework that bridges video-based and 3D-based world models and combines the benefits of both. The key insight of AEON lies in a generative model that operates within the text- or image-conditioned video latent space while producing renderable 4D graphics primitives---specifically, 4D Gaussian Splatting (4DGS)---as the explicit world representation. We train a 4D reconstruction model to predict both 4DGS and camera poses from monocular videos, serving as our initialized 4D decoder. Furthermore, we design a domain adapter that translates generative video latents into reconstructive 4D latents through a distillation process on the video VAE. AEON naturally supports video-based world modeling by rendering 4DGS at predicted camera trajectories, and constructs a persistent 4D environment with scene dynamics for realistic world simulation. Consequently, AEON empowers a diverse range of world modeling applications and achieves state-of-the-art performance on standard benchmarks. Project Page: https://weiqi-zhang.github.io/AEON

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