Document:

Exhibit 10.52

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION
AGREEMENT (“Subscription Agreement”) made as of this ____ day of ______, 2022, by and between Nyiax, Inc., a Delaware
Corporation (the “Company”), and [_____________________________________] having an address of [______________________]
(the “Subscriber”). Company and Subscriber may be collectively referred to for purposes of this Subscription
Agreement as the “Parties”.

 

RECITALS

 

WHEREAS, the Company intends
to offer (the “Offering”) for sale up to $6,000,000 of its Units (the “Offering Amount”), with each
Unit consisting of (i) a 12% unsecured convertible promissory note (each, a “Note”); and (ii) such number of common stock
purchase warrants (the “Warrants”) as shall be equal to ten thousand (10,000) Warrants for each $100,000 principal
amount of Notes subscribed for in this Offering (the Notes collectively with the Warrants are referred to herein as the “Units”).
The Notes and the Warrants are substantially in the form attached hereto as Exhibit A and Exhibit B, respectively and are
being offered in reliance upon the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”) and Rule 506(b) of Regulation D promulgated thereunder (“Regulation D”),
the terms and conditions hereinafter set forth.

 

WHEREAS, the Subscriber desires
to acquire certain Units.

 

NOW, THEREFORE, for and in
consideration of the promises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

 

AGREEMENT

 

1.
Subscription Procedure; Notes and Warrants

 

1.1
Subscription for Units. Subject to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for
and agrees to purchase from the Company the principal amount of Units, with the Notes and the Warrants substantially in the form attached
hereto as Exhibit A and Exhibit B, respectively, as is set forth upon the signature page hereof. The Notes in the Units shall bear interest
at a rate of twelve percent (12.0%) per annum, on a non-compounding basis, and are due and payable on the earlier of (i) the date upon
which the Units are converted into equity securities as set forth herein, or (ii) or eighteen months from the closing of this Offering
(the “Maturity Date”). All interest due shall be paid in shares of the Company’s common stock, which shall be
valued at $5.00 per share for purposes of the interest computation. The Warrants shall be exercisable into shares of common stock for
a period of five (5) years from the closing of the Offering at a price of $5.50 per share. The Units will be offered and sold by the Company
solely to “accredited investors” (as defined under Rule 501 of Regulation D of the Securities Act of 1933, as amended).

 

1.2
Subscription Period. The subscription period will begin as of the date of the Offering Memorandum and will terminate at
5:00 PM Eastern Standard Time on July 27, 2022, unless extended at the option of the Company in its sole discretion for a period of sixty
(60) business days (the “Termination Date”). The Units will be offered on a “best efforts $6,000,000 maximum”
basis. The minimum investment per subscription of the Offering is $50,000, subject to the Company’s right to accept a lesser amount.

 

1.3
Automatic Conversion of the Notes. The outstanding principal balance of the Notes and all accrued interest shall automatically
convert into common stock of the Company immediately prior to the Company’s receipt of an effective order from the SEC declaring
the registration statement of its initial public offering effective (the “Financing Event”). The shares
of common stock issuable upon conversion of the Notes shall be registered in the registration statement for such Financing Event. The
“Conversion Price” of the Notes will be at a price per share equal to the lower of the following: (i) 80% of the price
per share paid by the purchasers of securities in such Financing Event; or (ii) $5.00. In the event that the Company fails to complete
a Financing Event prior to the Maturity Date, the Notes shall automatically convert on the Maturity Date into shares of the Company’s
common stock at a price of $2.50 per share.

 

     

     

    

 

1.4
Voluntary Conversion of Notes into Common Shares. The Subscriber may elect at any time prior to the Maturity Date to convert
the outstanding accrued amount on the Notes issued hereunder into the number of shares of the Company’s common stock at a rate of
$5.00 per share of common stock (the “Elective Conversion”). Upon an Elective Conversion, the Notes shall be treated
by the Company as surrendered for cancellation and exchanged into shares of common stock and will be deemed, for all purposes, to be cancelled
on the books of the Company and the obligations represented by the Units so terminated and contributed to the capital of the Company.

 

1.5
Registration Rights. If, at any time within eighteen (18) months of the closing of this Offering, the Company proposes to
file a registration statement under the Securities Act with respect to an offering by the Company of its Common Stock (other than a registration
(i) pursuant to a registration statement on Form S-8 (or other registration solely relating to an offering or sale to employees or directors
of the Company pursuant to any employee stock plan or other employee benefit arrangement), (ii) pursuant to a registration statement on
Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), or
(iii) in connection with any dividend or distribution reinvestment or similar plan), then the Company shall give written notice (each,
a “Company Piggy-Back Notice”) of such proposed filing to each holder at least fifteen (15) days before the anticipated
filing date of such registration statement, and such Company Piggy-Back Notice also shall be required to offer to such rightsholders the
opportunity to register such aggregate number of shares of common stock issuable upon conversion of the Notes (the “Note Shares”)
and exercise of the Warrants (the “Warrant Shares”) as the Holder may request. The Holder shall have the right, exercisable
for the five (5) days immediately following the giving of a Company Piggy-Back Notice, to request, by written notice (the “Holder
Notice”) to the Company, the inclusion of all or any portion of the Note Shares and Warrant Shares of the Holder in such registration
statement.

 

Notwithstanding
anything contained herein to the contrary, the Company shall have the absolute right, whether before or after the giving of a Company
Piggy-Back Notice or Holder Notice, to determine not to file a registration statement to which the Holder shall have the right to include
its Note Shares and Warrant Shares therein, to withdraw such registration statement or to delay or suspend pursuing the effectiveness
of such registration statement. In the event of such a determination after the giving of a Company Piggy-Back Notice, the Company shall
give notice of such determination to the Holder and other persons which carry registration rights granted herein and, thereupon, (A) in
the case of a determination not to register or to withdraw such registration statement, the Company shall be relieved of its obligation
under to register any of the Note Shares or Warrant Shares in connection with such registration and (B) in the case of a determination
to delay the registration, the Company shall be permitted to delay or suspend the registration of the Note Shares and Warrant Shares for
the same period as the delay in the registration of such other securities.

 

1.6
Rejection of Orders. The Subscriber understands and agrees that the Company may in its sole discretion, reject any subscription,
in whole or in part. The Company may, in its sole discretion, terminate or withdraw the Offering in its entirety at any time prior to
a closing in relation thereto. If this subscription is rejected in whole or the Offering is terminated, all funds received from the Subscriber
will be returned without interest or offset, and this Subscription Agreement shall thereafter be of no further force or effect. If this
subscription is rejected in part, the funds for the rejected portion of this subscription will be returned without interest or offset,
and this Subscription Agreement will continue in full force and effect to the extent this subscription was accepted. The Company shall
not be required to allocate among investors on a pro rata basis in the event of an over-subscription.

 

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2.
Representations and Covenants of Subscriber

 

The Subscriber represents and warrants
to the Company that:

 

2.1
The Subscriber recognizes that the purchase of the Units involves a high degree of risk in that (i) the Company may need additional
capital to operate its business but has no assurance of additional necessary capital; (ii) an investment in the Company is highly speculative
and only investors who can afford the loss of their entire investment should consider investing in the Units; (iii) an investor may not
be able to liquidate his, her or its investment in the Units; (iv) transferability of the Units is extremely limited; (v) an investor
could sustain the loss of his, her or its entire investment; and (vi) the Company is and will be subject to numerous other risks and uncertainties,
including without limitation, significant and material risks relating to the Company’s business and operations, and the industries,
markets and geographic regions in which the Company competes, as well as risks associated with the Offering, all as more fully set forth
herein and in the Risk Factors annexed hereto as Exhibit C, the terms of which have been reviewed and accepted by the Subscriber.

 

2.2
The Subscriber represents that he, she or it is an “accredited investor” as such term is defined in Rule 501 of Regulation
D promulgated under the Securities Act, as indicated by his, her or its Investor Questionnaire, and that he, she or it is able to bear
the economic risk of an investment in the Units. The Subscriber has adequate means of providing for such Subscriber's current financial
needs and foreseeable contingencies and has no need for liquidity of its investment in the Units for an indefinite period of time. The
Subscriber must complete the applicable Investor Questionnaire, a form of which is attached hereto as Appendix I, to enable the
Company to assess the Subscriber’s eligibility for the Offering.

 

2.3
The Subscriber represents that all information which the Subscriber has provided to the Company concerning the Subscriber or the
Subscriber’s investor status, financial position, knowledge and experience in financial and business matters, or, in the case of
a corporation, trust, partnership, limited liability company, or other entity, the knowledge and experience in financial and business
matters of the person making the investment decision on behalf of such entity, including all information contained herein, is correct
and complete as of the date of this Agreement, and if there should be any adverse change in such information prior to this subscription
being accepted, the Subscriber will immediately provide the Company with such information.

 

2.4
The Subscriber acknowledges that he, she or it has such knowledge and prior investment experience, including without limitation,
investment in private, non-listed and non-registered securities and development-stage companies with limited operating histories, or he,
she or it has employed the services of an investment advisor, attorney or accountant to read all of the documents furnished or made available
by the Company both to him, her or it and to all other prospective investors in the Offering and to evaluate the merits and risks of such
an investment on his, her or its behalf, and that he, she or it recognizes the highly speculative nature of this investment.

 

2.5
The Subscriber acknowledges receipt and careful review of the risk factors annexed hereto as Exhibit C, and the attachments (Exhibits
A and B) hereto (collectively, the “Offering Documents”) and hereby represents that he, she or it has been furnished
or given access by the Company during the course of the Offering with or to all information regarding the Company and its financial conditions
and results of operations which he, she or it had requested or desired to know; that all documents which could be reasonably provided
have been made available for his, her or its inspection and review; that he, she or it has been afforded the opportunity to ask questions
of and receive answers from duly authorized representatives of the Company concerning the terms and conditions of the Offering, and any
additional information which he, she or it had requested. The Subscriber further represents and acknowledges that the Subscriber has not
seen or received any advertisement or general solicitation with respect to the sale of any of the securities of the Company, including,
without limitation, the Units.

 

2.6
The Subscriber acknowledges that the Offering of the Units may involve tax consequences, and that the contents of the Offering
Documents do not contain tax advice or information. The Subscriber acknowledges that he, she or it must retain his, her or its own professional
advisors to evaluate the tax and other consequences of an investment in the Units.

 

2.7
The Subscriber acknowledges that the Offering of the Units has not been reviewed or approved by the United States Securities and
Exchange Commission (“SEC”) because the Offering is intended to be a nonpublic offering pursuant to Section 4(a)(2)
of the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. The Subscriber represents that the Units are being purchased
for his, her or its own account, for investment and not for distribution or resale to others. The Subscriber agrees that he, she or it
will not sell or otherwise transfer any of the Units or common stock issuable upon exercise of the Warrants unless they are registered
under the Securities Act or unless an exemption from such registration is available and, upon the Company’s request, the Company
receives an opinion of counsel reasonably satisfactory to the Company confirming that an exemption from such registration is available
for such sale or transfer.

 

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2.8
The Subscriber understands that the Units have not been registered under the Securities Act by reason of a claimed exemption under
the provisions of the Securities Act which depends, in part, upon his, her or its investment intention. The Subscriber realizes that,
in the view of the SEC, a purchase now with the intention to distribute would represent a purchase with an intention inconsistent with
his, her or its representation to the Company, and the SEC might regard such a distribution as a deferred sale to which such exemption
is not available. The Subscriber understands that there is no assurance that the Company will effect a Financing Event or any public listing
of its securities.

 

2.9
The Subscriber understands that Rule 144 (the “Rule”) promulgated under the Securities Act requires, among other
conditions, a one (1) year holding period prior to the resale of securities acquired in a non-public offering, such as the Offering, without
having to satisfy the registration requirements under the Securities Act. The Subscriber understands that the Company makes no representation
or warranty regarding its fulfillment in the future of any reporting requirements under the Securities Exchange Act of 1934, as amended
(the Exchange Act”), or its dissemination to the public of any current financial or other information concerning the Company,
as is required by Rule 144 as one of the conditions of its availability. The Subscriber consents that the Company may, if it desires,
permit the transfer of the Units out of his, her or its name only when his, her or its request for transfer is accompanied by an opinion
of counsel reasonably satisfactory to the Company that neither the sale nor the proposed transfer results in a violation of the Securities
Act, any applicable state “blue sky” laws or any applicable securities laws of any other country, province or jurisdiction
(collectively, “Securities Laws”). The Subscriber agrees to hold the Company and its directors, officers and controlling
persons and their respective heirs, representatives, successors and assigns harmless and to indemnify them against all liabilities, costs
and expenses incurred by them as a result of any misrepresentation made by him/her/it contained herein or in the Investor Questionnaire
or any sale or distribution by the undersigned Subscriber in violation of any Securities Laws.

 

2.10
The Subscriber acknowledges and consents to the placement of one or more legends on any certificate or other document evidencing
his, her or its Notes, Warrants, Units or shares of common stock issuable upon conversion of the Notes or exercise of the Warrants, stating
that they have not been registered under the Securities Act, substantially in the form as set forth below and setting forth or referring
to the restrictions on the transferability and sale thereof:

 

THESE SECURITIES REPRESENTED
HEREBY OR THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

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2.11
The Subscriber understands that the Company will review this Subscription Agreement and the Investor Questionnaire and agrees that
the Company reserves the unrestricted right to reject or limit any subscription and to close the Offering pursuant to the terms of the
Offering Documents.

 

2.12
The Subscriber hereby represents that the address of Subscriber furnished by him, her or it at the signature page of this Subscription
Agreement and in the Investor Questionnaire is the Subscriber’s principal residence if the Subscriber is an individual or its principal
business address if the Subscriber is a corporation or other entity.

 

2.13
The Subscriber acknowledges that if the Subscriber is a Registered Representative of a Financial Industry Regulatory Authority
(“FINRA”) member firm, the Subscriber must give such firm the notice required by the FINRA Conduct Rules, or any applicable
successor rules of the FINRA, receipt of which must be acknowledged by such firm on the signature page hereof. The Subscriber shall also
notify the Company if the Subscriber or any affiliate of Subscriber is a registered broker-dealer with the SEC, in which case the Subscriber
represents that the Subscriber is purchasing the Units in the ordinary course of business and, at the time of purchase of the Units, has
no agreements or understandings, directly or indirectly, with any person to distribute the Units or any portion thereof.

 

2.14
The Subscriber hereby represents that, except as set forth in the Offering Documents, no representations or warranties have been
made to the Subscriber by either the Company or its agents, employees or affiliates and in entering into this transaction, the Subscriber
is not relying on any information, other than that contained in the Offering Documents and the results of independent investigation by
the Subscriber.

 

2.15
The Subscriber agrees that he, she or it will purchase the Units in the Offering only if his, her or its intent at such time is
to make such purchase for investment purposes and not with a view toward resale.

 

2.16
If the Subscriber is a partnership, corporation, trust or other entity, such partnership, corporation, trust or other entity further
represents and warrants that: (i) it was not formed for the purpose of investing in the Company; (ii) it is authorized and otherwise duly
qualified to purchase and hold the Units; and (iii) that this Subscription Agreement has been duly and validly authorized, executed and
delivered and constitutes the legal, binding and enforceable obligation of the Subscriber.

 

2.17
If the Subscriber is not a United States person, such Subscriber hereby represents that he, she or it has satisfied himself/herself/itself
as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Units or any use of this
Subscription Agreement, including (i) the legal requirements within his/her/its jurisdiction for the purchase of the Units, (ii) any foreign
exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the
income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Units.
Such Subscriber’s subscription and payment for, and his, her or its continued beneficial ownership of the Units, will not violate
any applicable securities or other laws of the Subscriber’s jurisdiction.

 

2.18
The Subscriber acknowledges that (i) the Offering Documents contain material, non-public information concerning the Company, and
(ii) the Subscriber is obtaining such material, non-public information solely for the purpose of considering whether to purchase the Units
pursuant to a private placement that is exempt from registration under the Act. The Subscriber agrees to keep such information confidential
and not to disclose it to any other person or entity except the Subscriber’s legal counsel, advisors and other representatives who
have agreed (i) to keep such information confidential, (ii) to use such information only for the purpose set forth above, and (iii) to
comply with applicable securities laws with respect to such information.

 

2.19
The Subscriber agrees to indemnify and hold harmless the Company and its officers, directors, employees and affiliates and each
other person, if any, who controls any of the foregoing, against any loss, liability, claim, damage and expense whatsoever (including,
but not limited to, any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation
commenced or threatened or any claim whatsoever) arising out of or based upon any false representation or warranty by the Subscriber,
or the Subscriber’s breach of, or failure to comply with, any covenant or agreement made by the Subscriber herein or in any other
document furnished by the Subscriber to the Company or its respective officers, directors, employees or affiliates or each other person,
if any, who controls any of the foregoing in connection with this transaction.

 

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2.20
The Subscriber understands and acknowledges that (i) the Units are being offered and sold to Subscriber without registration
under the Securities Act in a private placement that is exempt pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506(b) of
Regulation D promulgated thereunder; and (ii) the availability of such exemption depends in part on, and that the Company will rely
upon the accuracy and truthfulness of, the foregoing representations made by the Subscriber, and such Subscriber hereby consents to such
reliance.

 

2.21
The Subscriber understands and acknowledges that he, she or it will at all times be in compliance with any and all state and federal
securities and other laws, statutes and regulations regarding his, her or its ownership and/or any sale, transfer or hypothecation of
the Units including but not limited to those rules and regulations promulgated by the SEC, FINRA and any exchange on which the Company’s
securities are listed, if applicable, and those of federal and state governments and other agencies such as improper short selling of
the Company’s securities and failure to properly file all documents required by the SEC or otherwise, to the extent such rules and
regulations are applicable to the Company’s common stock and/or the Units.

 

2.22
The Subscriber understands and agrees that an investment in the Units involves special risks, and the undersigned understands those
risks (including without limitation the risks set forth in the Offering Documents), and the Subscriber is expressly assuming such risks.
The Subscriber acknowledges and is aware that the Units are speculative investments which involve a high degree of risk of loss by Subscriber
of his, her or its entire investment in the Company. The Subscriber agrees and acknowledges that it is the Subscriber’s sole responsibility
to conduct a “due diligence” investigation of the Company and the financial prospects of the Company. The Subscriber has not
relied on the Company for due diligence or suitability or investment recommendations.

 

2.23
The Subscriber should check the Office of Foreign Assets Control (“OFAC”) website at http://www.treas.gov/ofac
before making the following representations.

 

(a) The Subscriber
represents that the amounts invested by him, her or it in the Company in the Offering were not and are not directly or indirectly derived
from activities that contravene federal, state or international laws and regulations, including anti-money laundering laws and regulations.
Federal regulations and Executive Orders administered by OFAC prohibit, among other things, the engagement in transactions with, and the
provision of services to, certain foreign countries, territories, entities and individuals. The lists of OFAC prohibited countries, territories,
persons and entities can be found on the OFAC website at http://www.treas.gov/ofac. In addition, the programs administered by OFAC (the
“OFAC Programs”) prohibit dealing with individuals1
or entities in certain countries regardless of whether such individuals or entities appear on the OFAC lists.

 

(b)
To the best of the Subscriber’s knowledge, none of: (1) the Subscriber; (2) any person controlling or controlled by the Subscriber;
(3) if the Subscriber is a privately-held entity, any person having a beneficial interest in the Subscriber; or (4) any person for whom
the Subscriber is acting as agent or nominee in connection with this investment is a country, territory, individual or entity named on
an OFAC list, or a person or entity prohibited under the OFAC Programs. The Subscriber understands that Company may not accept any amounts
from a prospective investor if such prospective investor cannot make the representation set forth in the preceding paragraph. The Subscriber
agrees to promptly notify the Company should the Subscriber become aware of any change in the information set forth in these representations.
The Subscriber understands and acknowledges that, by law, the Company may be obligated to “freeze the account” of the Subscriber,
either by prohibiting additional subscriptions from the Subscriber, declining any redemption requests and/or segregating the assets in
the account in compliance with governmental regulations, and may also be required to report such action and to disclose the Subscriber’s
identity to OFAC. The Subscriber further acknowledges that the Company may, by written notice to the Subscriber, suspend the redemption
rights, if any, of the Subscriber if the Company reasonably deems it necessary to do so to comply with anti-money laundering regulations
applicable to the Company or any of the Company’s other service providers. These individuals include specially designated nationals,
specially designated narcotics traffickers and other parties subject to OFAC sanctions and embargo programs.

 

 

	1	These
individuals include specially designated nationals, specially designated narcotics traffickers and other parties subject to OFAC sanctions
and embargo programs.

 

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(c)
To the best of the Subscriber’s knowledge, none of: (1) the Subscriber; (2) any person controlling or controlled by the Subscriber;
(3) if the Subscriber is a privately-held entity, any person having a beneficial interest in the Subscriber; or (4) any person for whom
the Subscriber is acting as agent or nominee in connection with this investment is a senior foreign political figure,2
or any immediate family3 member or close associate4
of a senior foreign political figure, as such terms are defined in the footnotes below.

 

3.
Representations and Covenants by the Company

 

The Company represents and warrants
to the Subscriber that:

 

3.1
Organization and Authority. The Company has all requisite corporate power and authority to execute, deliver and perform
its obligations under this Subscription Agreement and the Offering Documents being executed and delivered by it in connection herewith,
and to consummate the transactions contemplated hereby and thereby.

 

3.2
Authorization. The Offering Documents have been duly and validly authorized by the Company. This Subscription Agreement,
assuming due execution and delivery by the Subscriber, when the Subscription Agreement is executed and delivered by the Company, will
be, valid and binding obligations of the Company, enforceable in accordance with their respective terms, except as the enforceability
hereof and thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting creditors’ rights generally and general principles of equity, regardless of whether enforcement is considered
in a proceeding in equity or at law.

 

3.3
Non-Contravention. The execution and delivery of the Offering Documents by the Company and the issuance of the Units as
contemplated by the Offering Documents do not and will not, with or without the giving of notice or the lapse of time, or both, (i) result
in any violation of any provision of the articles of incorporation or by-laws or similar instruments of the Company or its subsidiaries,
(ii) violate or contravene any applicable law, rule or regulation or any applicable decree, judgment or order of any court, United States
federal or state regulatory body, administrative agency or other governmental body having jurisdiction over the Company or any of its
subsidiaries or any of its respective properties or assets that would have a material adverse effect on the business, properties, operations,
condition (financial or other), results of operations or prospects of the Company and its subsidiaries, taken as a whole, or the validity
or enforceability of, or the ability of the Company to perform its obligations under, the Offering Documents, or (iii) have any material
adverse effect on any permit, certification, registration, approval, consent, license or franchise necessary for the Company or its subsidiaries
to own or lease and operate any of its properties and to conduct any of its business or the ability of the Company or its subsidiaries
to make use thereof.

 

3.4
Absence of Certain Proceedings. The Company is not aware of any action, suit, proceeding, inquiry or investigation before
or by any court, public board or body, or governmental agency pending or threatened against or affecting the Company or any of its subsidiaries,
in any such case wherein an unfavorable decision, ruling or finding could adversely affect the validity or enforceability of, or the authority
or ability of the Company to perform its obligations under, the Offering Documents.

 

 

	2	A “senior foreign political figure” is defined
as a senior official in the executive, legislative, administrative, military or judicial branches of a foreign government (whether elected
or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned corporation. In addition,
a “senior foreign political figure” includes any corporation, business or other entity that has been formed by, or for the
benefit of, a senior foreign political figure.

	3	“Immediate family” of a senior foreign political
figure typically includes the figure’s parents, siblings, spouse, children and in-laws.

	4	A
“close associate” of a senior foreign political figure is a person who is widely and publicly known to maintain an unusually
close relationship with the senior foreign political figure, and includes a person who is in a position to conduct substantial domestic
and international financial transactions on behalf of the senior foreign political figure.

 

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4.
Miscellaneous

 

4.1
Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified
mail, return receipt requested, addressed to the Company, at Nyiax, Inc., 180 Maiden Lane, New York, New York 10005, Attention: Chris
Hogan, Interim CEO, and to the Subscriber at his, her or its address indicated on the signature page of this Subscription Agreement. Notices
shall be deemed to have been given three (3) business days after the date of mailing, except notices of change of address, which shall
be deemed to have been given when received.

 

4.2
This Subscription Agreement may be amended through a written instrument signed by both the Subscriber and the Company; provided,
however, that the terms of this Subscription Agreement may be amended without the consent or approval of the Subscriber so long as such
amendment applies in the same fashion to the subscription agreements of all of the other subscribers for the Units in the Offering and
at least holders of a majority of the Units sold in the Offering have given their approval of such amendment, which approval shall be
binding on all holders of the Units.

 

4.3
This Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and assigns. This Subscription Agreement sets forth the entire agreement and understanding between the
parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every
nature among them.

 

4.4
This Subscription Agreement shall be construed in accordance with the laws of the State of New York, without regard to principles
of conflicts of law. The parties hereunder agree that any dispute arising out of or relating to an investment pursuant to this Subscription
Agreement or concerning this Subscription Agreement, including but not limited to disputes as to arbitrability and all disputes with the
Company, or any employee, agent, representative, officer, director or attorney of the Company, shall be resolved through final, binding,
non-appealable arbitration, before a single, neutral arbitrator, at JAMS, in New York County, New York in accordance with the rules and
regulations of the American Arbitration Association. Venue of all arbitration shall be JAMS Dispute Resolution Center, New York County,
New York. The Parties agree that each side will pay fifty percent (50%) of the cost of any arbitration proceedings. Judgment on any arbitration
award may be entered in any court having jurisdiction. Any arbitration award shall be in United States Dollars and may be enforced in
any jurisdiction in which the party against whom enforcement is sought maintains assets. The Parties agree to limit their respective testimony
at any arbitration hearing to three hours per side. SUBSCRIBER HEREBY WAIVES ANY RIGHT TO SEEK ANY TYPE OF DAMAGES OTHER THAN COMPENSATORY
DAMAGES, INCLUDING BUT NOT LIMITED TO CONSEQUENTIAL DAMAGES AND PUNITIVE DAMAGES. SUBSCRIBER HEREBY FURTHER WAIVES THE RIGHT TO A TRIAL
BY JURY, THE RIGHT TO BRING A CLASS ACTION SUIT, AND OTHER POTENTIAL REMEDIES THAT OTHERWISE MAY BE AFFORDED BY LAW. THIS IS A CLASS ACTION
WAIVER THAT APPLIES TO ALL DISPUTES ARISING OUT OF THIS INVESTMENT, INCLUDING BUT NOT LIMITED TO ANY DISPUTES WITH THE COMPANY AND ALL
OF ITS EMPLOYEES, AGENTS, REPRESENTATIVES, OFFICERS, DIRECTORS, OR ATTORNEYS.

 

4.5
This Subscription Agreement may be executed in counterparts. It shall not be binding upon the Company unless and until it is accepted
by the Company. Upon the execution and delivery of this Subscription Agreement by the Subscriber, this Subscription Agreement shall become
a binding obligation of the Subscriber with respect to the purchase of Units as herein provided; subject, however, to the right hereby
reserved to the Company to enter into the same agreements with other subscribers and to add and/or to delete other persons as subscribers.
This Subscription Agreement may be executed and delivered by facsimile or by email with scanned copy.

 

    8

     

    

 

4.6
The holding of any provision of this Subscription Agreement to be invalid or unenforceable by a court of competent jurisdiction
shall not affect any other provision of this Subscription Agreement, which shall remain in full force and effect.

 

4.7
It is agreed that a waiver by either party of a breach of any provision of this Subscription Agreement shall not operate, or be
construed, as a waiver of any subsequent breach by that same party.

 

4.8
The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further
action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

 

4.9
The Company agrees not to disclose the names, addresses or any other information about the Subscriber, except as required by law.

 

4.10
The obligation of the Subscriber hereunder is several and not joint with the obligations of any other subscribers for the purchase
of Units in the Offering (the “Other Subscribers”), and the Subscriber shall not be responsible in any way for the
performance of the obligations of any Other Subscribers of the Offering. Nothing contained herein or in any other agreement or document
delivered at the Closing, and no action taken by the Subscriber pursuant hereto, shall be deemed to constitute the Subscriber and the
Other Subscribers of the Offering as a partnership, an association, a joint venture or any other kind of entity, or create a presumption
that the Subscriber and the Other Subscribers of the Offering are in any way acting in concert with respect to such obligations or the
transactions contemplated by this Subscription Agreement. The Subscriber shall be entitled to protect and enforce the Subscriber’s
rights, including without limitation the rights arising out of this Subscription Agreement, and it shall not be necessary for any other
subscriber(s) of the Offering to be joined as an additional party in any proceeding for such purpose. The Subscriber is not acting as
part of a “group” (as that term is used in Section 13(d) of the Exchange Act) in negotiating and entering into this Subscription
Agreement or purchasing, disposing of or voting any of the Units. The Company hereby confirms that it understands and agrees that the
Subscriber is not acting as part of any such group.

 

4.11
The language used in this Subscription Agreement will be deemed to be the language chosen by the Parties to express their mutual
intent, and no rules of strict construction will be applied against any party.

 

[INVESTOR QUESTIONNAIRE AND SIGNATURE PAGE FOLLOWS]

 

    9

     

    

 

Appendix I

 

Investor Questionnaire

 

Unless instructed otherwise, the Investor should
answer each question on the Questionnaire. If the answer to a particular question is "None" or "Not Applicable," please
so state. If the Questionnaire does not provide sufficient space to answer a question, please attach a separate schedule to your executed
Questionnaire that indicates which question is being answered thereon. Persons having questions concerning any of the information requested
in this Questionnaire should consult with their purchaser representative or representatives, lawyer, accountant or broker.

 

PART I — FOR INDIVIDUALS

 

1. Personal Data

 

Name: ______________________________

Residence Address: ____________________________________________________
____________________________________________________________________ ____________________________________________________________________

Business Address: _____________________________________________________
____________________________________________________________________ ____________________________________________________________________

State of residence, if different: ___________________

Telephone: Residence ______________________ Business ____________

Age: ______________________ Citizenship: ____________

Send all correspondence to: Residence ____________ Business ____________

 

2. Investor Status

 

To be qualified to invest in the Units, the Investor
must either (i) be an Accredited Investor, or (ii) have, either alone or with your purchaser representative or representatives, such knowledge
and experience in financial and business matters that you are capable of evaluating the merits and risks of such investment.

 

Please check the appropriate representation that
applies to you.

 

Accredited Investors:

 

________ I am an Accredited Investor (as defined
in Rule 501 of Regulation D promulgated under the Securities Act) because I certify that (check all appropriate descriptions that apply):

 

		a.	____________ I have a net worth, or joint net worth with my spouse or spousal equivalent, of more than
US$1,000,000. (“Net worth” means the excess of total assets at fair market value (including personal and real property, but
excluding the estimated fair market value of your primary home) over total liabilities. "Total liabilities" excludes any mortgage
on the primary home in an amount of up to the home's estimated fair market value as long as the mortgage was incurred more than 60 days
before the Shares are purchased, but includes (i) any mortgage amount in excess of the home's fair market value and (ii) any mortgage
amount that was borrowed during the 60-day period before the closing date for the sale of the Shares for the purpose of investing in the
Shares. “Spousal equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse. “Joint
net worth” is the aggregate net worth of a person and spouse or spousal equivalent; assets do not need to be held jointly to be
included in the calculation.)

 

    10

     

    

 

		b.	____________ I have had an individual income in excess of US$200,000 in each of the two most recent calendar
years, or joint income with my spouse or spousal equivalent in excess of US$300,000 in each of those years, and have a reasonable expectation
of reaching the same income level in the current calendar year. (“Income” means annual adjusted gross income, as reported
for federal income tax purposes, plus (i) the amount of any tax-exempt interest income received; (ii) the amount of losses claimed as
a limited partner in a limited partnership; (iii) any deduction claimed for depletion; (iv) amounts contributed to an IRA or Keogh retirement
plan; (v) alimony paid; and (vi) any gains excluded from the calculation of adjusted gross income pursuant to the provisions of Section
1202 of the U.S. Internal Revenue Code of 1986, as amended.)

 

		c.	____________ I hold in good standing one of the following professional licenses: the General Securities
Representative license (Series 7), the Private Securities Offerings Representative license (Series 82), or the Investment Adviser Representative
license (Series 65).

 

		d.	____________ I am a director, executive officer or general partner of the Issuer, or a director, executive
officer or general partner of a general partner of the Issuer. (For purposes of this item 2, "executive officer" means the president;
any vice president in charge of a principal business unit, division or function, such as sales, administration or finance; or any other
person or persons who perform(s) similar policymaking functions for the Issuer.)

 

 

PART II—PURCHASERS WHO ARE NOT INDIVIDUALS

 

1. General Information

 

Name of Entity: __________________________________

Address of Principal Office: _______________________________________________
____________________________________________________________________ ____________________________________________________________________

Type of Organization: _______________________________

Date and State of Organization: _________________________________

 

2. Accredited Investor Status

 

To be qualified to invest in the Units, the Investor
must either (i) be an Accredited Investor, or (ii) have, and if applicable, its officers, employees, directors or equity owners have,
either alone or with its purchaser representative or representatives, such knowledge and experience in financial and business matters
that it is capable of evaluating the merits and risks of such investment.

 

Please check the appropriate description which
applies to you.

 

		a.	____________ A bank, as defined in Section 3(a)(2) of the Securities Act or any savings and loan association
or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in an individual or a fiduciary capacity.

 

		b.	____________ A broker or dealer registered under Section 15 of the Securities Exchange Act of 1934, as
amended.

 

		c.	____________ An investment adviser registered pursuant to Section 203 of the U.S. Investment Advisers
Act of 1940 or registered pursuant to the laws of a state.

 

    11

     

    

 

		d.	____________ An investment adviser relying on the exemption from registering with the SEC under Section
203(l) or (m) of the Investment Advisers Act of 1940.

 

		e.	____________ An insurance company, as defined in Section 2(a)(13) of the Securities Act.

 

		f.	____________ An investment company registered under the Investment Company Act of 1940 or a business development
company, as defined in Section 2(a)(48) of that act.

 

		g.	____________ A Small Business Investment Company licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the U.S. Small Business Investment Act of 1958.

 

		h.	____________ A Rural Business Investment Company as defined in Section 384A of the U.S. Consolidated Farm
and Rural Act.

 

		i.	____________ A plan established and maintained by a state, its political subdivisions or any agency or
instrumentality of a state or its political subdivisions for the benefit of its employees, if the plan has total assets in excess of US$5
million.

 

		j.	_____________ An employee benefit plan within the meaning of Title I of the Employee Retirement Income
Security Act of 1974, if the investment decision is being made by a plan fiduciary, as defined in Section 3(21) of such act, and the plan
fiduciary is either a bank, a savings and loan association, an insurance company, or a registered investment adviser, or if the employee
benefit plan has total assets in excess of US$5 million, or if the employee benefit plan is a self-directed plan in which investment decisions
are made solely by persons that are accredited investors.

 

		k.	_____________ A private business development company, as defined in Section 202(a)(22) of the Investment
Advisers Act of 1940.

 

		l.	______________A corporation, Massachusetts or similar business trust, partnership, or limited liability
company or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, that was not formed for the
specific purpose of acquiring the Securities, and that has total assets in excess of US$5 million.

 

		m.	______________ A trust with total assets in excess of US$5 million not formed for the specific purpose
of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities
Act.

 

		n.	______________ An entity in which all of the equity owners (whether entities themselves or natural persons)
are accredited investors and meet the criteria listed under the section of “For Individual Investors Only” of this Certification.

 

		o.	______________ An entity of a type not listed above, that is not formed for the specific purpose of acquiring
the Shares and owns investments in excess of US$5 million. For purposes of this clause, "investments" means investments as defined
in Rule 2a51-1(b) under the Investment Company Act of 1940.

 

		p.	______________ A family office, as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act of
1940, that (i) has assets under management in excess of US$5 million; (ii) is not formed for the specific purpose of acquiring the Securities
and (iii) has a person directing the prospective investment who has such knowledge and experience in financial and business matters so
that the family office is capable of evaluating the merits and risks of the prospective investment.

 

    12

     

    

 

		q.	_____________ A family client, as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940, of a family office meeting
the requirements of the immediately preceding clause and whose prospective investment in the Issuer is directed by that family office
pursuant to subclause (iii) of the immediately preceding clause.

 

Subscription Procedures

 

To subscribe for the Units, a prospective
investor will be required to deliver funds to us, by check made payable to “Nyiax, Inc.” or by wire transfer to the Company.
In addition, the prospective investor must complete, execute and deliver to us this Subscription Agreement and Investor Questionnaire,
including information necessary for us to determine whether the prospective investor is qualified under federal and state securities laws
and regulations to be an investor.

 

Wire Transfer Instructions

 

Business Name:

Bank Name:

Account #:

Routing #:

 

[signature page follows]

 

    13

     

    

 

This page constitutes the
signature page for the Subscription Agreement, the Investor Questionnaire and execution of this signature page constitutes execution of
each.

 

IN WITNESS WHEREOF, the Subscriber
has executed this Subscription Agreement and Investor Questionnaire this _____ day of ______________, 2022.

 

	 	$	                         
	 	 	Total Purchase Price

 

	 	For Individuals:
	 	 
	 	                     
	 	Name of Prospective Investor (print or type)
	 	                     
	 	(Signature)
	 	 	 
	 	                     
	 	Name of Joint Prospective Investor (print or type)
	 	(if applicable)
	 	 
	 	                     
	 	(Joint Signature, if applicable)
	 	 
	 	For Entities:
	 	 	 
	 	                     
	 	Name of Prospective Investor (print or type)
	 	 
	 	By:	                     
	 	 	(Signature)
	 	Name:	                     
	 	Title:	                      
	 	 	 
	 	                      
	 	(Name and Initials of IRA custodian, if applicable)

 

	$
    	                    	 
	 	 	 
	Total Purchase Price Accepted	 

 

	Accepted and Agreed, as of ___________, 2022:	 
	 	 
	Nyiax, Inc.	 
	 	 	 
	By:	                     	 
	Name:	 Chris Hogan	 
	Title:	 Interim CEO	 

 

 

14Exhibit 10.53

 

  

Warrant Certificate No._____

 

NEITHER THE SECURITIES REPRESENTED
BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE
STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER
OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.

 

	Effective Date: July [ ],
2022 	Void After: July [ ], 2027

 

NYIAX, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

NYIAX, Inc.,
a Delaware corporation (the “Company”), for value received on ___________, 2022 (the “Effective Date”),
hereby issues to _________________________________________________(the “Holder” or “Warrant Holder”)
this Warrant (the “Warrant”) to purchase ______ shares (each such share as from time to time adjusted as hereinafter
provided being a “Warrant Share” and all such shares being the “Warrant Shares”) of the Company’s
Common Stock (as defined below), at the Exercise Price (as defined below), as adjusted from time to time as provided herein, on or before
[five years from closing] , or at the initial public offering (“IPO”) of the Company whichever event occurs first
(the “Expiration Date”), all subject to the following terms and conditions. This Warrant has been issued to the Holder
pursuant to that certain Subscription Agreement dated _______________, 2022 by and between the Company and the Holder (the “Subscription
Agreement”).

 

As used in
this Warrant, (i) “Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks
in the City of New York, New York, are authorized or required by law or executive order to close; (ii) “Common Stock”
means the common stock of the Company, par value $0.001 per share, including any securities issued or issuable with respect thereto or
into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination,
recapitalization, reclassification, reorganization or other similar event; (iii) “Exercise Price” means five dollars
and fifty cents ($5.50) per share of Common Stock, subject to adjustment as provided herein; (iv) “Trading Day” means
any day on which the Common Stock is traded (or available for trading) on its principal trading market; and (v) “Affiliate”
means any person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control
with, a person, as such terms are used and construed in Rule 144 promulgated under the Securities Act of 1933, as amended (the “Securities
Act”).

 

     

     

    

 

1.
DURATION AND EXERCISE OF WARRANTS

 

(a) Exercise
Period. The Holder may exercise this Warrant in whole or in part on any Business Day on or before 5:00 P.M., Eastern Time, on the
Expiration Date, at which time this Warrant shall become void and of no value.

 

 (b) Exercise Procedures.

 

(i) While
this Warrant remains outstanding and exercisable in accordance with Section 1(a), the Holder may exercise this Warrant in whole or in
part at any time and from time to time by:

 

(A) delivery to the Company
of a duly executed copy of the Notice of Exercise attached as Exhibit A.

 

(B) surrender
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder; and

 

(C) payment
of the then-applicable Exercise Price per share multiplied by the number of Warrant Shares being purchased upon exercise of the Warrant
(such amount, the “Aggregate Exercise Price”) made in the form of cash, or by certified check, bank draft or money
order payable in lawful money of the United States of America.

 

(ii) Upon
the exercise of this Warrant in compliance with the provisions of this Section 1(b), the Company shall promptly issue and cause to
be delivered to the Holder a certificate for the Warrant Shares purchased by the Holder. Each exercise of this Warrant shall be effective
immediately prior to the close of business on the date (the “Date of Exercise”) that the conditions set forth in Section
1(b) have been satisfied, as the case may be. On the first Business Day following the date on which the Company has received each of the
Notice of Exercise and the Aggregate Exercise Price (the “Exercise Delivery Documents”), the Company shall transmit
an acknowledgment of receipt of the Exercise Delivery Documents to the Company’s transfer agent (the “Transfer Agent”).
On or before the third (3rd) Business Day following the date on which the Company has received all of the Exercise Delivery
Documents (the “Share Delivery Date”), the Company shall (X) provided that the Transfer Agent is participating in The
Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, upon the request of the Holder, credit
such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its
designee’s balance account with DTC through its Deposit Withdrawal Agent Commission system, or (Y) if the Transfer Agent is not
participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch by overnight courier to the address as specified
in the Notice of Exercise, a certificate, registered in the Company’s share register in the name of the Holder or its designee,
for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. Upon delivery of the Exercise Delivery
Documents, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect
to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant Shares.

 

(c) Partial
Exercise. This Warrant shall be exercisable, either in its entirety or, from time to time, for part only of the number of Warrant
Shares referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant to Section 1 and the number of
Warrant Shares represented by this Warrant submitted for exercise is greater than the actual number of Warrant Shares being acquired upon
such an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and
at its own expense, issue a new Warrant of like tenor representing the right to purchase the number of Warrant Shares purchasable immediately
prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised.

 

    2 | PAGE

     

    

 

(d) Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company
shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section
16.

 

 2. ISSUANCE OF WARRANT SHARES

 

(a) The
Company covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized, fully
paid and non-assessable, and (ii) free from all liens, charges and security interests, with the exception of claims arising through the
acts or omissions of any Holder and except as arising from applicable Federal and state securities laws.

 

(b) The
Company shall register this Warrant upon records to be maintained by the Company for that purpose in the name of the record holder of
such Warrant from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner thereof for
the purpose of any exercise thereof, any distribution to the Holder thereof and for all other purposes.

 

(c) The
Company will not, by amendment of its certificate of incorporation, by-laws or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out
of all the provisions of this Warrant and in the taking of all action necessary or appropriate in order to protect the rights of the Holder
to exercise this Warrant, or against impairment of such rights.

 

 3. ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT SHARES

 

(a) The
Exercise Price and the number of shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time
upon the occurrence of certain events described in this Section 3; provided, that notwithstanding the provisions of this Section
3, the Company shall not be required to make any adjustment if and to the extent that such adjustment would require the Company to issue
a number of shares of Common Stock in excess of its authorized but unissued shares of Common Stock, less all amounts of Common Stock that
have been reserved for issue upon the conversion of all outstanding securities convertible into shares of Common Stock and the exercise
of all outstanding options, warrants and other rights exercisable for shares of Common Stock. If the Company does not have the requisite
number of authorized but unissued shares of Common Stock to make any adjustment, the Company shall use its commercially best efforts to
obtain the necessary stockholder consent to increase the authorized number of shares of Common Stock to make such an adjustment pursuant
to this Section 3.

 

(i) Subdivision
or Combination of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or otherwise)
its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision
shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and conversely, in case the outstanding
shares of Common Stock of the Company shall be combined (whether by way of stock combination, reverse stock split or otherwise) into a
smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased and the
number of Warrant Shares shall be proportionately decreased. The Exercise Price and the Warrant Shares, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described in this Section 3(a)(i).

 

(ii) Dividends
in Stock, Property, Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares of stock
or other securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to receive, without
payment therefore:

 

    3 | PAGE

     

    

 

(A) any
shares of stock or other securities that are at any time directly or indirectly convertible into or exchangeable for Common Stock, or
any rights or options to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution, or

 

(B) additional
stock or other securities or property (including cash) by way of spin-off, split-up, reclassification, combination of shares or similar
corporate rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of which shall be covered
by the terms of Section 3(a)(i) above), then and in each such case, the Exercise Price and the number of Warrant Shares to be obtained
upon exercise of this Warrant shall be adjusted proportionately, and the Holder hereof shall, upon the exercise of this Warrant, be entitled
to receive, in addition to the number of shares of Common Stock receivable thereupon, and without payment of any additional consideration
therefor, the amount of stock and other securities and property (including cash in the cases referred to above) that such Holder would
hold on the date of such exercise had such Holder been the holder of record of such Common Stock as of the date on which holders of Common
Stock received or became entitled to receive such shares or all other additional stock and other securities and property. The Exercise
Price and the Warrant Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events
described in this Section 3(a)(ii).

 

(iii) Reorganization,
Reclassification, Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital stock
of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its
assets or other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities,
or other assets or property (an “Organic Change”), then, as a condition of such Organic Change, lawful and adequate
provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of
the shares of the Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
by this Warrant) such shares of stock, securities or other assets or property as may be issued or payable with respect to or in exchange
for a number of outstanding shares of such Common Stock equal to the number of shares of such stock immediately theretofore purchasable
and receivable assuming the full exercise of the rights represented by this Warrant. In the event of any Organic Change, appropriate provision
shall be made by the Company with respect to the rights and interests of the Holder of this Warrant to the end that the provisions hereof
(including, without limitation, provisions for adjustments of the Exercise Price and of the number of shares purchasable and receivable
upon the exercise of this Warrant) shall thereafter be applicable, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise hereof. The Company will not affect any such consolidation, merger or sale unless, prior to the consummation
thereof, the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing
such assets shall assume by written instrument reasonably satisfactory in form and substance to the Holder executed and mailed or delivered
to the registered Holder hereof at the last address of such Holder appearing on the books of the Company, the obligation to deliver to
such Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to
purchase.

 

If there is
an Organic Change, then the Company shall cause to be mailed to the Holder at its last address as it shall appear on the books and records
of the Company, at least ten (10) calendar days before the effective date of the Organic Change, a notice stating the date on which such
Organic Change is expected to become effective or closed, and the date as of which it is expected that holders of the Common Stock of
record shall be entitled to exchange their shares for securities, cash, or other property delivered upon such Organic Change; provided,
that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action
required to be specified in such notice. The Holder is entitled to exercise this Warrant during the 10-day period commencing on the date
of such notice to the effective date of the event triggering such notice. In any event, the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing such assets shall be deemed to assume such obligation to deliver
to such Holder such shares of stock, securities or assets even in the absence of a written instrument assuming such obligation to the
extent such assumption occurs by operation of law.

 

    4 | PAGE

     

    

 

(b) Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The
Company shall promptly furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such adjustments and readjustments;
and (ii) the number of shares and the amount, if any, of other property which at the time would be received upon the exercise of the Warrant.

 

(c) Certain
Events. If any event occurs as to which the other provisions of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in accordance with the basic intent and principles of such
provisions, or if strictly applicable would not fairly protect the purchase rights of the Holder under this Warrant in accordance with
the basic intent and principles of such provisions, then the Company’s Board of Directors will, in good faith, make an appropriate adjustment
to protect the rights of the Holder; provided, that no such adjustment pursuant to this Section 3(c) will increase the Exercise
Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 3.

 

 4. INTENTIONALLY LEFT BLANK

 

 5. TRANSFERS AND EXCHANGES OF WARRANT AND WARRANT SHARES.

 

(a) Registration
of Transfers and Exchanges. Subject to Section 5(c), upon the Holder’s surrender of this Warrant, with a duly executed copy of the
Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices or at such other office or agency
as the Company may specify in writing to the Holder, the Company shall register the transfer of all or any portion of this Warrant. Upon
such registration of transfer, the Company shall issue a new Warrant, in substantially the form of this Warrant, evidencing the acquisition
rights transferred to the transferee and a new Warrant, in similar form, evidencing the remaining acquisition rights not transferred,
to the Holder requesting the transfer.

 

(b) Warrant
Exchangeable for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially the form
of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder,
each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of Warrant Shares as
shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding such re-certification
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder.

 

(c) Restrictions
on Transfers. This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an exemption
from such registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of the Warrant may be
effected without registration under the Securities Act, which opinion will be in form and from counsel reasonably satisfactory to the
Company.

 

(d) Permitted
Transfers and Assignments. Notwithstanding any provision to the contrary in this Section 5, the Holder may transfer, with or without consideration,
this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates (as such term is defined under Rule
144 of the Securities Act) without obtaining the opinion from counsel that may be required by Section 5(c)(ii), provided, that the Holder
delivers to the Company and its counsel certification, documentation, and other assurances reasonably required by the Company’s
counsel to enable the Company’s counsel to render an opinion to the Company’s Transfer Agent that such transfer does not violate
applicable securities laws.

 

    5 | PAGE

     

    

 

 6. MUTILATED OR MISSING WARRANT CERTIFICATE.

 

If this Warrant
is mutilated, lost, stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and upon
cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially the
form of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that, as a prerequisite
to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction as well as an indemnity
from the Holder of a lost, stolen or destroyed Warrant.

 

 7. PAYMENT OF TAXES.

 

The Company
will pay all transfer and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant
Shares (and replacement Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that
the Company shall not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates
for Warrant Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.

 

 8. FRACTIONAL WARRANT SHARES.

 

No fractional Warrant
Shares shall be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round up the
number of Warrant Shares issuable to nearest whole share.

 

 9. NO STOCK RIGHTS AND LEGEND.

 

No holder
of this Warrant, as such, shall be entitled to vote or be deemed the holder of any other securities of the Company that may at any time
be issuable on the exercise hereof, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such,
the rights of a stockholder of the Company or the right to vote for the election of directors or upon any matter submitted to stockholders
at any meeting thereof, or give or withhold consent to any corporate action or to receive notice of meetings or other actions affecting
stockholders (except as provided herein), or to receive dividends or subscription rights or otherwise (except as provide herein).

 

Each certificate
for Warrant Shares initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

    6 | PAGE

     

    

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR
TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.”

 

 10. PIGGY-BACK REGISTRATION RIGHTS.

 

If, at any
time within eighteen (18) months of the Effective Date, the Company proposes to file a registration statement under the Securities Act
with respect to an offering by the Company of its Common Stock (other than a registration (i) pursuant to a registration statement on
Form S-8 (or other registration solely relating to an offering or sale to employees or directors of the Company pursuant to any employee
stock plan or other employee benefit arrangement), (ii) pursuant to a registration statement on Form S-4 (or similar form that relates
to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), or (iii) in connection with any dividend
or distribution reinvestment or similar plan), then the Company shall give written notice (each, a “Company Piggy-Back Notice”)
of such proposed filing to Holder at least fifteen (15) days before the anticipated filing date of such registration statement, and such
Company Piggy-Back Notice also shall be required to offer to such Holder the opportunity to register such aggregate number of Warrant
Shares as the Holder may request. The Holder shall have the right, exercisable for the five (5) days immediately following the giving
of a Company Piggy-Back Notice, to request, by written notice (the “Holder Notice”) to the Company, the inclusion of
all or any portion of the Warrant Shares of the Holder in such registration statement.

 

Notwithstanding
anything contained to the contrary in this Section 10, the Company shall have the absolute right, whether before or after the giving of
a Company Piggy-Back Notice or Holder Notice, to determine not to file a registration statement to which the Holder shall have the right
to include its Warrant Shares therein pursuant to this Section 10, to withdraw such registration statement or to delay or suspend pursuing
the effectiveness of such registration statement. In the event of such a determination after the giving of a Company Piggy-Back Notice,
the Company shall give notice of such determination to the Holder and other persons which carry registration rights granted and, thereupon,
(A) in the case of a determination not to register or to withdraw such registration statement, the Company shall be relieved of its obligation
under this Section 10 to register any of the Warrant Shares in connection with such registration, and (B) in the case of a determination
to delay the registration, the Company shall be permitted to delay or suspend the registration of the Warrant Shares pursuant to this
Section 10 for the same period as the delay in the registration of such other securities.

 

 11. NOTICES.

 

All notices,
consents, waivers, and other communications under this Warrant must be in writing and will be deemed given to a party when (a) delivered
to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile or e-mail
with confirmation of transmission by the transmitting equipment; (c) received or rejected by the addressee, if sent by certified mail,
return receipt requested, if to the registered Holder hereof; or (d) seven (7) days after the placement of the notice into the mails (first
class postage prepaid), to the Holder at the address, facsimile number, or e-mail address furnished by the registered Holder to the Company,
or if to the Company, to it at:

 

NYIAX, Inc.

180 Maiden Lane, , 11th Floor

New York,
NY 10005

Attention: [Chris Hogan]

Email: [chogan@nyiax.com]

 

    7 | PAGE

     

    

 

 12. SEVERABILITY.

 

If a court of competent
jurisdiction holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain in full force
and effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force and effect to
the extent not held invalid or unenforceable.

 

 13. BINDING EFFECT.

 

This Warrant
shall be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, the registered Holder or
Holders from time to time of this Warrant and the Warrant Shares.

 

 14. SURVIVAL OF RIGHTS AND DUTIES.

 

This Warrant shall terminate
and be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on which this Warrant
has been exercised in full.

 

 15. GOVERNING LAW.

 

This Warrant
will be governed by and construed under the laws of the State of Delaware without regard to conflicts of laws principles that would require
the application of any other law.

 

 16. DISPUTE RESOLUTION.

 

In the case
of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit
the disputed determinations or arithmetic calculations via facsimile within two (2) Business Days of receipt of the Notice of Exercise
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination
or calculation of the Exercise Price or the Warrant Shares within three (3) Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within two (2) Business Days, submit via facsimile (a) the disputed
determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder or
(b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall
cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations and notify
the Company and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed determinations or
calculations. Such investment bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon
all parties absent demonstrable error.

 

    8 | PAGE

     

    

 

17.
NOTICES OF RECORD DATE.

 

Upon (a) any
establishment by the Company of a record date of the holders of any class of securities for the purpose of determining the holders thereof
who are entitled to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other
right, or (b) any capital reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into any
other corporation, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution, liquidation
or winding up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock (whether newly issued,
or from treasury, or previously issued and then outstanding, or any combination thereof), the Company shall mail to the Holder at least
ten (10) Business Days, or such longer period as may be required by law, prior to the record date specified therein, a notice specifying
(i) the date established as the record date for the purpose of such dividend, distribution, option or right and a description of such
dividend, option or right, (ii) the date on which any such reorganization, reclassification, transfer, consolidation, merger, dissolution,
liquidation or winding up, or sale is expected to become effective, and (iii) the date, if any, fixed as to when the holders of record
of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such reorganization,
reclassification, transfer, consolation, merger, dissolution, liquidation or winding up.

 

18.
RESERVATION OF SHARES.

 

The Company
shall reserve and keep available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant,
free from pre-emptive rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. The
Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation. Without limiting the generality of the foregoing, the Company covenants that it will use
commercially reasonable efforts to take all such action as may be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and use commercially reasonable efforts to obtain
all such authorizations, exemptions or consents, including but not limited to consents from the Company’s stockholders or Board
of Directors or any public regulatory body, as may be necessary to enable the Company to perform its obligations under this Warrant.

 

19.
NO THIRD-PARTY RIGHTS.

 

This Warrant
is not intended, and will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or
entity may assert any rights as third-party beneficiary hereunder.

 

[remainder of page intentionally
left blank]

 

    9 | PAGE

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be duly executed as of the date first set forth above.

 

	 	NYIAX, INC.
	 	 
	 	By:
  	 
	 	Name: 	Chris Hogan
	 	Title:	Interim CEO

 

    10 | PAGE

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

(To be executed by the Holder of
Warrant if such Holder desires to exercise Warrant)

 

To NYIAX, Inc.:

 

The undersigned hereby irrevocably
elects to exercise this Warrant and to purchase thereunder,_____________________ full shares of NYIAX, Inc.’s common stock issuable upon exercise of
the Warrant and delivery of $ __________(in cash as provided for in the foregoing Warrant) and any applicable taxes payable by the undersigned
pursuant to such Warrant; and

 

The undersigned requests that certificates for such shares
be issued in the name of:

 

 

	(Please print name, address and social security or federal employer
	identification number (if applicable))

 

 

 

 

 

 

If the shares
issuable upon this exercise of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise
of the Warrant, the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered
to:

 

 

(Please print name, address and
social security or

federal employer identification number (if applicable))

 

 

 

 

 

 

	 	Name of Holder (print):	 
	 	(Signature):	 
	 	(By):	 
	 	(Title):	 
	 	Dated:	 

 

    11 | PAGE

     

    

 

 

EXHIBIT
B

 

FORM OF ASSIGNMENT

 

FOR
VALUE RECEIVED, ___________________ hereby sells, assigns and transfers to each assignee set forth below all of the rights of
the undersigned under the Warrant (as defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set
opposite the name of such assignee below and in and to the foregoing Warrant with respect to said acquisition rights and the shares
issuable upon exercise of the Warrant:

 

	Name of Assignee	Address	Number of Shares
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

If the total
of the Warrant Shares are not all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant
evidencing the right to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.

 

	 	Name of Holder (print):	 
	 	(Signature):	 
	 	(By):	 
	 	(Title):	 
	 	Dated:	 

 

 

12 | PAGE

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