ASUS Opens Art Black Hole NFT Metaverse

Asus Computers has become one of the big tech industry’s latest participants to join the Metaverse after it launched a platform for developing its strategy, reports revealed on Wednesday.

The Asus Group opened its Metaverse and non-fungible token (NFT) platform, ASUS Art Black Hole, which will allow artists and content creators to host their digital assets and NFTs.

JUST IN: Laptop💻 maker ASUS has opened the ASUS Metaverse division and its ‘Art Black hole’ #NFT platform on Ethereum.#NFTCommunity #CryptoNews #Binance #Web3 #WAGMI pic.twitter.com/dvcMmRzfub

— GemCryptoFather🔶 (@GemCryptoFather) October 6, 2022

Joe Hsieh, ASUS’s Chief Operating Officer, said in a statement,

“Asus pays close attention to the latest developments of emerging industries, and we’re particularly drawn by the potential of the Web3 industry”

According to its website, the ASUS Metaverse aims to “create infinite possibilities of digital life for people.” The platform leverages artificial intelligence (AI), cloud computing, and the blockchain.

ASUS has also welcomed content creators from across vertical markets to join the Ethereum-based platform.

Foxconn’s Metaverse Plans

One of the world’s top PC vendors, ASUS revealed the platform months after Taiwanese tech giant Foxconn opened its metaverse strategy in March.

The massive tech manufacturer struck a memorandum of understanding (MOU) with XRSPACE, an extended reality (XR) hardware company, to develop immersive solutions to build the Metaverse.

To date, Foxconn has invested roughly $100 million USD to develop the technologies cited in the MOU. The deal will build virtual experiences, devices, and components, as well as use cases for the Metaverse.

It will also leverage emerging technologies such as AI, avatars, hand tracking, and XRSPACE’s PartyOn and GOXR platforms for consumers and developers, respectively.

East Asia Metaverse Space Race

The news comes as two major competitors in East Asia – China and South Korea – have launched their metaverse plan in a bid to develop the future spatial communications platform.

Reports found Seoul’s Information and Computer Technology and Science Ministry (MSIT) planned to fund nearly 220 Metaverse companies totalling $4.2 million USD, along with a Metaverse Academy to support 40,000 industry experts by 2026. The country aims to reach fifth place as a global Metaverse hub, and currently ranks 12th for its technologies, reports said.

Shanghai, China’s most populous city, has also stepped up plans to facilitate its metaverse sector by 2025, according to its Five-Year Plan. The strategy will fund $52 billion USD to develop new computer processors, VR headsets, 5G, cloud computing, and other key metaverse technologies.

According to the city’s draft proposal, the metaverse plans will target cloud-based gaming, immersive experiences, social and enterprise events, videos, and intelligent interaction.

It also plans to support further digital intellectual property ecosystems and creative content development, along with a group of ten “chain-owner” organisations to compete in global markets.