Many marketers still consider crypto a fringe financial experiment, but that won’t last much longer. From blockchain-powered transparency to celebrity-endorsed scams, the crypto economy is infiltrating advertising in ways we’re only beginning to understand. And if Phil Ohren, founder and head of strategy at Intender, has anything to say about it, Australia could become the world’s proving ground for what comes next.
“Marketing crypto is really hard,” says Ohren. “The regulation is intense; platforms like Google and Meta just shut it all down initially, and people still associate it with spam or the dark web.”
Yet the tide is turning. Crypto is now bigger than silver in terms of global market cap. Bitcoin has reached a valuation of $1.736 trillion, making it the world’s 8th largest asset, according to the Companies Market Cap website.
Locally, platforms like CoinSpot and Binance are growing exponentially, while others, such as Aussie-only startup Shping, are blending blockchain tech with retail media and first-party data strategies. “There’s a transfer of privacy wealth happening,” Ohren says. “People know their attention is valuable and want fair remuneration.”
It’s a huge opportunity and an even bigger risk.
Scams, hot tubs and hashtag FOMO
For every blockchain success story, there’s a cautionary tale. Ohren references the infamous Hawk Tuah influencer who rose to fame in a hot tub launched her own crypto brand, and then rug-pulled stakeholders into oblivion. “She printed more coins out of thin air, and now she’s probably going to jail.”
The problem, says Ohren, is a mix of consumer naivety and influencer irresponsibility. “The two biggest acronyms in crypto are FOMO, fear of missing out, and DYOR, do your own research. If you don’t do the second, the first will burn you.”
Paul Peng Yang CFP, who works for AIA Australia and teaches in the Master of Financial Planning program at Victoria University, shares a similar view.
“Transparency and due diligence are paramount when discussing or promoting crypto investment,” says Yang. “Unlike traditional financial products, crypto is highly speculative and the regulatory framework is still evolving. That makes clear and accurate disclosures essential to protect consumers from undue risks.”
Yang believes financial professionals play a critical role in helping consumers understand both the risks and opportunities of cryptocurrency.
“I always invite my clients to rethink their investment philosophy and whether it aligns with their long-term goals. For something as volatile as crypto, I advocate for a ‘core and satellite’ approach: the core of a portfolio focuses on stability and long-term growth. In contrast, a small satellite portion allows controlled exposure to high-risk opportunities. But it’s like walking into a casino, you should only put chips on the table if you’re prepared to lose them.”
Blockchain’s bright side
Despite the pitfalls, Ohren is bullish on the ways blockchain can improve marketing through greater transparency, accountability, and user control.
“Imagine if you could go to a blockchain and see what data a brand has on you, then toggle what you’re willing to share,” he says. “That would be powerful.”
Blockchain could also revolutionise ad buying. “The Guardian ran an experiment where they bought ads on their own site and only got back 20% of their spend. Blockchain could solve that, reduce the middlemen, and increase trust.”
He sees retail media and affiliate platforms as the most likely early adopters. “They already deal in transaction data, blockchain makes it more efficient and secure.”
Web3, media and the way forward
For Ohren, the crypto conversation is part of a broader shift toward Web3, a decentralised, user-owned internet. “The idea is to move from interruption marketing to intent marketing. Instead of blasting everyone with ads, reach the 20 people who actually want a BMW this week.”
He also believes blockchain could be a powerful tool for combating misinformation and restoring trust in public figures and publishers. “If you put a will on the blockchain, no one can tamper with it. Imagine the same for campaign finance or ad verification. It’s the most secure, irrefutable record we’ve ever had.”
But there’s a catch. “Big tech doesn’t exactly want transparency,” Ohren admits. “Still, Australia is a perfect test market, small, agile, and digitally advanced. We have a real shot at leading this shift.”
Yang agrees that education and clarity will be vital as crypto becomes more mainstream.
“Consumers deserve to understand what they’re investing in, and marketers need to take responsibility for the influence they wield. With crypto, the line between opportunity and risk is razor-thin – and the stakes are only getting higher.”