Nyiax and Rebel AI ink verification partnership
Nyiax has today (20 April) announced a tie-up with startup Rebel AI which the pairing claims will help advertisers and publishers verify and marketplace contracts, meaning media buyers can be more safely assured they will get what they paid for.
Blockchain has been one of the key buzz phrases of the digital media business in 2018
Under the terms of the agreement, the Rebel AI Passport product will be integrated into the Nyiax marketplace, meaning media buyers that choose it as the court of record for futures contracts can be better assured the terms of the contract will be delivered upon.
The tie-up was announced earlier today at the Global Blockchain Summit, with Denver-based Rebel AI claiming it will help lessen the likelihood for media buyers being affected by fraud, plus make media owners less vulnerable to domain spoofing.
Developed in partnership with Nasdaq, Nyiax uses its patented financial matching engine along with blockchain technology to let advertisers and media owners trade and re-trade premium advertising contracts in a forward/futures methodology.
Carolina Abenante, Nyiax co-founder said the tie-up was an example of its ambitions to create an end-to-end marketplace. “The cost of reconciliation was irrational and taking a major bite out of every dollar spent as organizations, like the IAB and major publications, have all called out,” she added. “Fraud has been another giant issue. We’ve effectively eliminated both, to everyone’s advantage.”
Manny Puentes, chief executive of Rebel AI, said: “The integration of Passport within the NYIAX marketplace showcases exactly how blockchain creates a new era of transparency for digital advertising and a stronger marketplace for media buyers and sellers.”
News of the tie-up comes a day after London Media Exchange (LMX) announced a similar tie-up with US-based startup Ternio to help verify transparency and media costs, as well as the number of intermediaries involved in a trade.
Blockchain has become one of the buzzwords of the digital media landscape in 2018, with the phrase dominating the agenda of many industry conferences on both sides of the Atlantic. See here for The Drum’s guide to assessing whether people actually know what they are talking about when pitching blockchain.