Asus ventures into Web 3 space with new NFT platform

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Taiwanese multinational laptop and phone maker Asus has made a significant foray into the Web 3 ecosystem with the unveiling of a non-fungible token (NFT) platform. In an official announcement on October 4, Asus said that the platform would leverage its cloud computing capabilities in addition to the immutable design of distributed ledgers.

The NFT platform dubbed Art Black hole will feature NFTs minted from Asus Metaverse Inc., the technology firm’s Web 3 division. The platform is not open to the general public to list their creations of digital collectibles, as only invited artists can list their NFTs at the time of writing.

“Asus pays close attention to the latest developments of emerging industries, and we’re particularly drawn by the potential of the Web 3 industry,” remarked Joe Hsieh, Chief Operating Officer (COO) at Asus.

Art Black hole will operate like regular NFT marketplaces, but the website shows that the option for secondary trading is presently not supported. However, Asus Metaverse Inc. says the feature “will launch soon” in what appears to be a strategy to test the acceptance levels of the new platform.

Buyers of collectibles can make their purchases through fiat without the requirements of owning digital assets in a bid to make the process easy for users. The platform disclosed that apart from listing the NFTs, it provides additional services to all parties to make their experience wholesome. 

“In addition to the advice, planning, and promotion services we offer to our content creators, Art Black hole provides expert reviews to collectors about the artistic value of our NFTs,” said the team. “Additionally, all NFTs sold are guaranteed to be genuine and can be purchased safely.”

The big dogs just can’t say no to NFTs

Big Tech firms are turning to digital collectibles in droves since the ecosystem experienced a mass adoption spree in 2021. In Taiwan, Apple iPhone maker Foxconn and its subsidiary Ennoconn Corporation have made a push to offer NFTs and metaverse services to its customer base after receiving a $39.8 million investment from Google.

Sportswear brand Nike has explored NFTs following its acquisition of RTFKT, while luxury fashion brands like Louis Vuitton and Burberry have also attempted to offer their customers digital versions of their physical clothing items.

Despite the widespread adoption of NFTs, the numbers tell a gloomy story for the industry as transaction volumes and floor prices have reached an all-time low in recent months.

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