ASTERIX is a new data-intensive storage and computing platform project spanning UC Irvine, UC Riverside, and UC San Diego. In this paper we provide an overview of the ASTERIX project, starting with its main goal—the storage and analysis of data pertaining to evolving-world models . We describe the requirements and associated challenges, and explain how the project is addressing them. We provide a technical overview of ASTERIX, covering its architecture, its user model for data and queries, and its approach to scalable query processing and data management. ASTERIX utilizes a new scalable runtime computational platform called Hyracks that is also discussed at an overview level; we have recently made Hyracks available in open source for use by other interested parties. We also relate our work on ASTERIX to the current state of the art and describe the research challenges that we are currently tackling as well as those that lie ahead.