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NVRAM error at best means that your BIOS is corrupted and at worst your MOBO needs it's BIOS chip replaced i.e. RMA the MOBO.
First, try to Clear CMOS:
1. Unplug the PSU for at least 5 minutes
2. Press & hold for 5~10 seconds the (CLR_CMOS) button the tiny red button on the lower edge of your MOBO (CLR_CMOS - see page 2-18 of the manual).
Helpful video - http://www.youtube.com/watch?v=rdHH9KrceR0
Next, if that fails then contact the place you purchased for an exchange if possible, some places offer 'Expedited Exchanges/RMA' aka 'Cross-Shipping' which generally requires a hold or the full amount for the MOBO to be placed on your Credit Card until the defective MOBO is received from you. Otherwise full RMA to ASUS can otherwise take 30 total days.