The emulation of this system is preliminary.
After their previous effort with the C64 GS failed and the strange decision to advertise the Amiga 600 as a games machine that could be used as a computer, Commodore decided to make a last attempt to enter the video game console market with the CD32.
The CD32 is notable for being the first 32 bit CD-ROM based console ever released (the PlayStation wasn't released until the next year). It was based on the Amiga 1200 hardware which now had a new chip named Akiko that acted as a CD-ROM controller and I/O chip.
The system was interesting also because of the wide range of CDs which could be played: CD32 ones (of course), many CDTV ones, music CDs, Karaoke CDs, CD+Gs (like music CD but with pictures or lyrics displayed in time with the music), Photo CDs (by loading a photo CD reader first), and Video CDs (by plugging in the FMV cartridge).
Initially, the system was quite successful. Software for the CD32 was a bit of a disappointment though, mainly consisting of ports of old Amiga software with the odd video thrown in along with the obligatory CD music tracks.
Unfortunately for Commodore their financial problems had begun to take hold by this point. With the financial situation rapidly getting worse and unable to sell the CD32 in the American market, Commodore filed for bankruptcy at the end of April 1994. The unsold CD32s were seized by the government of the Philippines as payment owed by Commodore for the use of a factory.
(info from old-computers.com and from CD32 FAQ)