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For emerging ad exchange NYIAX, it’s back to the future
Now in a pilot, NYIAX adapts Nasdaq tech, future ad contracts and blockchain to power a new approach for buying and selling digital ads.
There are a variety of ways to solve the ad tech transparency problem. But, for a new ad exchange, it comes down to combining an old solution with a new one.
The exchange, called the New York Interactive Advertising Exchange or NYIAX, has been in a pilot phase since February and expects to be open for business by the end of this year.
The old-style solution it employs: future guaranteed contracts for ad inventory or targeted impressions — essentially, an insertion order for some point later. NYIAX Chief Product and Technology Officer Richard Bush told me that, to his knowledge, NYIAX is the first exchange to specifically provide a marketplace for future ad contracts at guaranteed prices, a throwback in this age of ad decisioning and servicing that happens in a fraction of a second.