Asus Computers has launched a web3 unit to oversee its NFT and metaverse strategy. The company joins the growing list of technology companies that have jumped on the web3 bandwagon.
Asus is to launch an NFT marketplace that will exclusively offer digital collectibles and NFTs from selected artists.
NFT Art Black hole platform
The world’s fifth-largest computer company announced Tuesday the launch of its NFT platform, dubbed “Art Black hole.” It follows in the footsteps of other Taiwanese manufacturers such as Foxconn and Ennoconn Corp.
Built on the Ethereum blockchain, the NFT platform does not support secondary trading at this time, according to a company spokesperson.
Joe Hsieh, chief operating officer of Asus, said:
“Asus pays close attention to the latest developments in emerging industries, and we are especially attracted to the potential of the web3 industry.”
“The NFT platform will enable more people to create personalized characters, spaces and even unattainable dream collectibles in the metaverse through NFT by using content and IPs related to art, photography, fashion, audio and video, and gaming.
Asus is particularly attentive to the development of the next-generation industry, especially the potential of Web3.0, so we have set up a new company to declare our determination to exploit the metaverse in the long term.
“The first step is to showcase the NFT platform and invite content creators from various fields to become ASUS’ new partners,” said Mingjie Xie, COO and Senior Vice President of Asus.”
Asus will lead its web3 projects under its newly launched unit, Asus Metaverse. The unit leverages the company’s cloud computing, artificial intelligence (AI) and blockchain capabilities to advance its metaverse campaign.
The metaverse is generally described as a 3D virtual space that allows people to interact immersively through games, virtual concerts and other experiential events.
The burgeoning sector has attracted some of the biggest players in the tech space, led by Meta Platforms, parent of Facebook and Instagram.
According to McKinsey, the metaverse is expected to reach a market value of $5 trillion by 2030. However, Goldman Sachs and Morgan Stanley have a much more ambitious projection of $8 trillion, and Citigroup believes the industry could be worth a whopping $13 trillion.
Asus may be a little late to the party, but it’s certainly coming in strong with a dedicated web3 unit. According to the spokesperson, the company’s NFT marketplace will also allow users to purchase NFT with the new Taiwan dollars, making it one of the few platforms that allow users to transact in fiat currency.
Big tech companies enter the metaverse
ASUS becomes the latest in a growing list of big tech companies to join the race for the metaverse.
Foxconn, a Taiwanese company that makes Apple’s iPhones, entered the metaverse earlier this year by partnering with and investing $100 million in XRSPACE, known for creating virtual reality (VR) hardware.
Recently, Meta achieved its goal of bringing NFT to its two major social networking platforms.
As of September 29, Facebook and Instagram users in the U.S. can now link their wallets and post NFTs on both platforms.
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