In addition, it will also offer the capability to associate programmatic spend against preferred pricing contracts without affecting their auction as well as whitelist and blacklist controls.
Carolina Abenante, CSO and co-founder of NYIAX, said in a statement that her outfit’s offering of upfront pricing control, price discovery and contract management tools was something the industry “has been waiting two decades to realize.”
Meanwhile, Joe Meehan, general manager, Iponweb, North America, said the agreement added a new “direct-to-publisher model” for programmatic trading, adding the way ad tech has fractured has enabled intermediaries into the transaction. “And it’s really hard for a holding company to understand where they’re spending and why they’re spending there,” he told Adweek.
Buyers can now streamline, simplify and conduct their media buys all in one platform, thus unifying the ad-buying process and enabling transparency in a broken marketplace, according to Meehan. “The MediaGrid is designed to be a thin layer across all their buying activity that can help them understand more holistically where their budgets are going,” he added.
Currently, the offering is in beta with a number of scaled media agencies and national publishers with a more comprehensive rollout expected by the close of the year.
Ben Feldman, svp of strategy at NYIAX and Adweek contributor, said, “NYIAX has always been about linking the primaries of the industry together from a contracts standpoint as cleanly as possible … in the way direct-buying has been done in a clean and standardized model.”
He added, “This helps standardize the RFP process and means you end up with a much more cohesive contract model that can be replicated over and over again, even though you’ve got much different types of inventory types of campaign goals.”
By Ronan Shields, ADWEEK | June 18, 2019