> The latest addition to the ad tech ecosystem is an interesting proposition. Earlier today NYIAX (New York Interactive Advertising Exchange) – was announced. The new exchange will use Nasdaq’s technology, leverage the Nasdaq Financial Framework architecture and will run on blockchain technology.
“NYIAX is a trading platform that brings Wall Street to Madison Avenue through a Nasdaq-powered, seamless global exchange that allows publishers and advertisers to buy, sell and re-trade premium advertising inventory as guaranteed contracts,” said NYIAX CEO Lou Severine. “By enabling guaranteed digital media contract trading with efficiency, transparency and ease and providing the proprietary matching engine and trading tools trades require, NYIAX helps advertisers and publishers dominate the $72 billion US digital advertising landscape they command. Once the exchange achieves critical mass within digital, we will begin supporting TV, print, radio and out-of-home markets.”
NYIAX say their platform will benefit media buyers by ‘providing a transparent and trusted market to secure and re-trade premium future advertising inventory’. On the sell-side, they say their technology will allow publishers to increase revenue by growing sell-through, retaining higher CPMs and reducing fees.
For advertisers, NYIAX say their exchange will provide a new way of discovering and purchasing inventory, whilst greater transparency and forecasting will help them to secure the premium inventory they need in advance.
Chief Product & Technology Officer, Richard Bush (formerly VP of Operations for IPONWEB), is currently overseeing the onboarding of a select group of premium companies on the NYIAX platform and the pilot programme is due to complete in late 2017.
“Trading, a vital part of other market sectors, has now come to media. With the ability to trade guaranteed media contracts, advertisers and publishers can now be efficient and rid themselves of unnecessary costs and risks,” said Bush.
NYIAX hope that their exchange will push the market forward by providing both a common taxonomy and a standard interface, which they say will accelerate market growth and reduce fragmentation. The Nasdaq Matching Engine and other proven exchange data models and technologies provide the foundation on which Bush and his team created the NYIAX platform.
“The platform immediately delivers clients upfront media buying and re-sell capabilities. As a new secondary market, a new potential revenue stream is one of the main reasons we are seeing so much interest in our pilot program,” added Lou Severine. “What NYIAX is doing will change everything. Once the rest of the market is exposed, advertising as we knew it for the past twenty years will be ancient history.”