• Nyiax, an ad marketplace and contract management platform, has reportedly filed for a listing on the Nasdaq. The firm is expected to raise USD 20 million and is reported to have a market cap of approximately USD 74 million.

• Nyiax offers an automated platform, allowing media buyers and sellers to list, buy, and sell advertising or audience campaigns at scale. A unique aspect of Nyiax is its use of smart contracts and blockchain technology where any ad contracts are placed on a hyperledger fabric blockchain for contract management, reconciliation, and automation. The patented technology is jointly held by both Nyiax and a subsidiary of Nasdaq. Nyiax’s users include Horizonmedia, IPG, Quigley, Vayner Mediam, and Tracer.

• The firm also reported that it achieved a revenue of USD 1 million as of March 31, 2022, and experienced a net loss of USD 12.3 million in 2021.

<ul><li> Analyst QuickTake: Nyiax’s IPO filing is likely a reflection of the growing interest shown in AdTech firms that offer privacy-preserving solutions. This comes at a time when the deadline for the elimination of third-party cookies from popular web browsers draws near (scheduled to be eliminated from Google Chrome by end-2023), which represents a key challenge for advertisers. Its use of smart contracts and blockchain technology, which contains built-in privacy and security measures, provides Nyiax with an edge over its peers.</ul>