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The Brazilian-made GF1 Neptune is an FPGA-based attempt to replicate the unreleased Sega Neptune system, which would have combined the Mega Drive and 32X into a single platfrom.
GamesCare, the team behind the system, had to push the machine's release to this year, but it has now released a video showing the 32X FPGA core in action.
The system is shown running Knuckles' Chaotix from a Mega EverDrive Pro flash cartridge.
"The GamesCare team has been working with total dedication over the past few months," says the team. "Our main focus is to deliver the most incredible product possible to your homes, honoring all the love and support we have received."
The console is now "up and running" with the "main planned cores", which are Mega Drive, Master System, and 32X. "We have many important people in the community to thank," adds GamesCare. "Without their help, none of this would be possible, and we will express our gratitude in a very special way soon."
A 32X core already exists for the MiSTer FPGA platform, and it runs pretty well.