This paper model is a Sega Mark III, a third-generation video game console that was manufactured and released by Sega in 1985, often called the Sega Master System, the papercraft was created by Sega Japan.
The original Master System could play both cartridges and the credit card-sized "Sega Cards," which retailed for cheaper prices than cartridges but had lower storage capacity. The Master System also featured accessories such as a light gun and 3D glasses which were designed to work with a range of specially coded games.
The Master System was released as a direct competitor to the Nintendo Entertainment System in the third videogame generation. The Master System was technically superior to the NES, which predated its release by nine months in North America, but failed to overturn Nintendo's significant market share advantage in Japan and North America.
You can download the papercraft model here: 1985 Sega Mark III Master System Free Paper Model Download