A new exchange for trading advertising contracts is entering its pilot phase, enlisting Nasdaq for a tech setup that will see it deployed in the cloud and run on blockchain technology.
The platform, called Nyiax (New York Interactive Advertising Exchange), allows publishers and advertisers to buy, sell and re-trade advertising inventory as guaranteed contracts.
Nyiax will use the Nasdaq Financial Framework architecture, and claims it will be the first exchange to be deployed in the cloud and also run on blockchain technology.
Lars Ottersgård, head, market technology, Nasdaq, says: “Nyiax is leveraging our Nasdaq Financial Framework architecture, which draws on cutting-edge technology, including the integration of blockchain technology as our core ledger, as well as cloud-enabled trading and clearing capabilities.”
A pilot with a select group of firms is getting underway as the new outfit seeks to convince advertisers and publishers that it can help them dominate the $72 billion US digital advertising market.