Company Description

NYIAX is a financial platform technology company founded in 2012 by Carolina Abenante, Mark Grinbaum and Graham Mosley, who formulated the genesis of NYIAX’s mission: to bring forth a new era of financial platform technology and financial rigor within the advertising industry and beyond. NYIAX’s platform utilizes Nasdaq’s financial framework (“NFF”)(1) wherein NYIAX employs smart contracts and blockchain technology as core ledger therefore enabling contract formation, compliance and reconciliation. NYIAX’s proprietary technology brings automation of complex and outdated contract processes to its clients. NYIAX has changed the methodology of how markets are developed within the advertising ecosystem and strives to do the same across other industries. NYIAX’s current market mission is to connect buyers and sellers of media through trusted, secure and efficient transactions. The 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 essentially creates current and future opportunities for any industry utilizing contracts. The Nasdaq Technology Relationship The NYIAX platform was developed and patented in partnership with none other than Nasdaq. Together, the firms adapted and extended order books, matcher and discovery functionality in order to efficiently scale a new asset class leveraging Nasdaq’s marketplace technology(2). NYIAX incorporated Hyperledger Fabric Blockchain(3), an enterprise blockchain, as its core ledger for tracking order terms, contract management and contract reconciliation. Nasdaq’s marketplace technology provides financial rigor for clients utilizing NYIAX-created instruments (contract terms, media channels, time period, campaign, etc.) with standardized taxonomies. NYIAX worked in collaboration with Nasdaq to create one of the first advertising contract management exchanges deployed in the cloud and utilizing blockchain technology(4). NYIAX, Inc. and Nasdaq Technology AB’s joint patent titled, “Systems and Methods for Electronic Continuous Trading of Variant Inventories” (Patent No. 10,607,291), which describes NYIAX’s 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 to ensure its continued optimal performance. On December 21, 2015, NYIAX entered into a Design Study Agreement with Nasdaq in order to determine and create the adaptations necessary to evolve the financial technology platform into an advertising exchange. On May 17, 2016, NYIAX entered into an IT Services Agreements with Nasdaq for the build and completion of the specification of the Design Study, which included exclusivity to work only with NYIAX until 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 ten years to April 5, 2032. (1) NFF, the framework, consists of a single operational core that ties together the deep portfolio of Nasdaq’s proven business functionality across the contract lifecycle, in an open framework whereby exchanges, clearinghouses and central securities depositories can integrate Nasdaq’s business applications with each other, as well as other third-party solutions. (2) Anna Irrera and John McCrank, Nasdaq provides Blockchain tech to new advertising exchange, March 14, 2017. (3) Hyperledger Fabric, an open-source project from the Linux Foundation, is the modular blockchain framework and de facto standard for enterprise blockchain platforms. Hyperledger Fabric is an open, proven, enterprise-grade, distributed ledger platform. It has advanced privacy controls so only the data that is wanted to be shared gets shared among the “permissioned” (known) network participants. (4) “Announcing NYIAX, the World's First Advertising Contract Exchange”, NYIAX, Inc. and Nasdaq, Inc., https://ir.nasdaq.com/news-releases/news-release-details/announcing-nyiax-worlds-first-advertising-contract-exchange --- NYIAX, INC. 180 Maiden Lane, 11th Floor New York, NY 10005 Telephone Number: 917-444-9259. We also maintain a website at www.nyiax.com.