NYIAX is a kind of back-to-the-future use of blockchain tech for advertising.
Instead of attempting to mirror the lightning-fast processing speeds of current programmatic digital advertising — blockchain protocols like Ethereum are very slow in terms of real-time transactional processing — NYIAX is employing blockchain as a shared, permanent ledger to record smart contracts for ad placement.
These contracts are similar in concept to those veterans of TV and radio advertising known as insertion orders, and they set up the terms for a future placement of digital ads in a digital property like a website. The ads themselves will then be served by any ad server.
Last week, NYIAX — which is ramping up operations toward a full launch as early as next month for buying, selling and re-trading ad contracts — announced a “preferred partnership” that completes the picture.
The partnership is with Rebel AI, a Louisville, Colorado-based startup that also employs blockchain, but on the other end: delivery.