One of the earlier ways of performing Firmware Emulation was to create a Qemu image and then copy the firmware file system's contents on to the Qemu image and then launch the image.
AttifyOS VM or any Linux based image
You can download de OVA file and import it into the VirtualBox.
A firmware that you want to emulate (Netgear WNAP320 )
binwalk -e WNAP320\ Firmware\ Version\ 2.0.3.zip
tar -xvf WNAP320_V2.0.3_firmware.tar
python3 fat.py /home/iot/Desktop/a/_WNAP320\ Firmware\ Version\ 2.0.3.zip.extracted/rootfs.squashfs
After a moment ...
PRESS ENTER 😎