The "V3200" refers to the version number of the tool. Older versions (V2000, V2500, V3000) exist, but V3200 is currently the most sought-after because it supports the latest generation of Canon PGI-xx0 and CLI-xx1 cartridge-based printers (e.g., TS series, TR series, MG series post-2018).
Canon Service Tool V3200: A Guide to Resetting Waste Ink Counters canon service tool v3200