Are you sure the display is going to sleep and it's not just the backlight is going out? When it does it's thing the next time, look very carefully at the screen and see if you can spot the faint outline of what was on the screen before things went dark. If you can, it's an inverter or display problem, if not, you're probably looking at a motherboard problem.
ASUS (well really ASUSTek, ASUS is just the exclusive reseller for the US market of ASUSTek products and is a highly racist company to boot) is like almost everyone else these days and does limited runs of new models about every 6 months, so I wouldn't even bother trying to send it in for repairs with them. That kind of production system means that it would be cost prohibitive to keep warranty parts around long-term. So if you've had the unit a year already they could be anywhere from 2 to 3 generations beyond yours by now and your warranty would probably be worth more as an emergency supply of toilet paper.
Whatever the cause, if it ends up being hardware related you're kind of on your own to get it fixed and if it's a display inverter it's good news/bad news. Inverters are cheap, but they're usually an enormous PITA to replace and it'd be very easy for the inexperienced repair person to damage something else in the process.
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