Remember a couple years ago when Asus tried to ride the popularity of the Nintendo Wii by coming out with something that look eerily similar to the Wii Remote and Nunchuk? I think it was called the Eee Stick or something. Well, you know Kinect for Xbox 360 has been doing reasonably well? It looks like Asus wants a piece of that motion-sensing pie too.
The WAVI part is more than gaming. Standing for Wireless Audio Video Interaction, it's a platform that lets you transmit your PC HD content to your TV. Add in the Xtion sensor with a WAVI receiver and you have a Kinect and Xbox, sort of, with a range of entertainment and gaming options.
My gut tells me that Xtion will go the way of the Eee Stick, but I'll gladly eat my words if Asus manages to turn this into something remotely (no pun intended) as successful as Microsoft's more mainstream offering.