Nasdaq is to release an advertising exchange built on Blockchain technology by the end of the year.

The New York Interactive Advertising Exchange (NYIAX) “allows publishers and advertisers to buy, sell and re-trade premium advertising inventory as guaranteed contracts,” its CEO Lou Severine said in a press release on Wednesday.

NYIAX will be the first exchange deployed in the cloud which also runs Blockchain technology. In line with other such ventures, Nasdaq hopes the principal benefits will lie in saving time, money and ironing out inefficiencies.

Severine notes:

“Publishers benefit from the capabilities it provides to help them increase revenue by growing sell-through, retaining higher CPMs and reducing fees. For advertisers, the exchange delivers a new way of discovering and purchasing inventory. Through greater transparency and forecasting, advertisers are also able to secure the premium inventory they need in advance.”

Nasdaq has been an outspoken supporter of Blockchain in recent years, allowing innovative assets to trade on its exchanges. Global Advisors’ COINXBT and COINXBE funds are both trading on the Swedish Nasdaq.

“NYIAX is leveraging our Nasdaq Financial Framework architecture, which draws on cutting-edge technology, including the integration of Blockchain technology as our core ledger, as well as cloud-enabled trading and clearing capabilities,” the corporation’s Executive Vice President and Head of Market Technology Lars Ottersgård adds.