NYIAX, Inc.

General Information
Business:

NYIAX is a financial and advertising technology company founded in 2012 by Carolina Abenante, Mark Grinbaum and Graham Mosley, who formulated the genesis of NYIAX’s business model to bring financial platform technology and financial rigor to the advertising industry.

**(Note: NYIAX, Inc. filed its S-1 (prospectus) on June 1, 2022.) 

NYIAX’s platform uses the Nasdaq financial framework (“NFF”)1. NYIAX employs smart contracts and blockchain technology as core ledger, which enables contract formation, compliance and reconciliation. NYIAX’s utilization of financial technology brings automation of many manual and outdated processes to the advertising industry. NYIAX aspires to change the methodology of how markets are developed within the advertising ecosystem. Our current advertising market mission is to connect buyers and sellers of media through trusted, secure, and efficient transactions. This technology platform is protected through a joint patent held by both NYIAX and Nasdaq Technology AB (“Nasdaq”), a wholly owned subsidiary of Nasdaq, Inc.. This patented technology creates current and future opportunities in media and advertising industries.

NYIAX’s platform was developed in part based on a joint patent created with Nasdaq, where NYIAX and Nasdaq adapted and extended order book, matcher and discovery functionality in order to efficiently scale a new asset class leveraging Nasdaq’s marketplace technology.2 NYIAX incorporated Hyperledger Fabric Blockchain3 an enterprise blockchain, as its core ledger for tracking order terms, contract management and contract reconciliation. Nasdaq’s marketplace technology provides financial rigor to advertising through the standardization of instruments (which are contract terms, including media channel, time period, campaign, and etc.) and creation of taxonomies. NYIAX was one of the first advertising contract management exchanges deployed in the cloud and utilizing blockchain technology.4 NYIAX, Inc. and Nasdaq Technology AB were granted a joint patent, titled “Systems and Methods for Electronic Continuous Trading of Variant Inventories” (Patent No. 10,607,291), which describes technology related to electronic continuous buying and selling systems and matching data records representing inventories with variant characteristics, such as variant length, variant data types, etc.

NYIAX and Nasdaq have entered into several long-term agreements to build and maintain the NYIAX platform. On December 21, 2015, NYIAX entered into a Design Study Agreement with Nasdaq in order to determine and to create the adaptations necessary to utilize the financial technology platform as an advertising exchange. On May 17, 2016, NYIAX entered into an IT Services Agreement with Nasdaq for building and completion of the specification of the design study, which included exclusivity to work only with NYIAX until October 2021 in the scope of advertising platforms. On December 30, 2020, NYIAX and Nasdaq amended the IT Services Agreement to extend the term of the agreement for an additional 10 years to April 5, 2032.

**Note: Revenue and net loss figures are for the fiscal year ended Dec. 31, 2021.

 

 

Industry: Services - Computer Processing & Data Preparation
Employees:
Founded: 2012
Contact Information
Address 180 Maiden Lane, 11th Floor New York, NY 10005
Phone Number 1-917-444-9259
Web Address
View Prospectus: NYIAX, Inc.
Financial Information
Market Cap $20.0mil
Revenues $0.59 mil (last 12 months)
Net Income $-12.25 mil (last 12 months)
IPO Profile
Symbol NYX
Exchange NASDAQ
Shares (millions): 4.4
Price range $4.00 - $5.00
Est. $ Volume $20.0 mil
Manager / Joint Managers Boustead Securities
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change