The Magazine & News Desk of Decentralized Finance

Beyond the headlines.Into the industry.

The world's largest printed crypto publication, available in 22 countries, Crypto Magazine combines intelligent journalism, practical education and global news with the voices and ideas shaping digital assets. We cut through the noise to explore what matters, why it matters and where the industry is heading.

CryptoMagazine Print Editions

Print Archive

Recent Editions · Available in Print & Digital

15
BEYOND THE SURFACE
Now Available

BEYOND THE SURFACE

Understanding what really makes crypto work.

Issue 15 goes beneath the familiar language of crypto to explore the systems, behaviours and hidden mechanics that shape the industry. From liquidity, market structure and the machine economy to digital identity, security, tax and the technology we increasingly take for granted, this edition explains not just what happens in crypto, but what is really happening underneath.

Available Formats

Print Edition

Heavy-weight archival paper print. Includes complete layout, high-res graphics, and offline reading.

100 Pages

Digital Edition

Instant PDF

Instant secure download link. High-fidelity layouts optimized for iPad, tablets, and screen reading.

Interactive PDF

*Local pricing applies

Flagship Long-Reads. Unlocked.

Read selected institutional editorial features from our latest print editions in full, no paywall required.

Explore Complete Archive
Complimentary ReadFeature Issue 15 9 min read

What If You Knew Then What You Know Now?

By Adele·
“Five years after 10,000 Bored Apes changed digital culture, Liquid Apes returns to the iconic 10,000 supply and 0.08 ETH starting line; this time, with built-in liquidity.”

There are moments in every emerging market that look obvious only in hindsight. In Web3, it was Bitcoin below a dollar and Ethereum below $10. In tech, it was Apple, before everyone had heard their name. The opportunities that, years later, make us say ‘Imagine if we’d bought it then!’ ![Liquid Apes Shibuya 109 Tokyo billboard display](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/nt52txsbz0s.jpg) NFTs have their own version of that story. In April 2021, 10,000 cartoon Apes arrived on Ethereum and cost 0.08 ETH each to mint. At the time, the idea that ownership of a digital image could become a passport into one of the most recognisable communities in Web3 sounded extraordinary. But those Apes changed everything. They became profile pictures, status symbols, intellectual property and cultural shorthand. Celebrities bought them, brands noticed them and collectors obsessed over them. Individual NFTs changed hands for sums that would once have seemed absurd for digital art. Whatever your opinion of NFTs, it is difficult to argue with the cultural impact of what happened next. This collection of Apes helped demonstrate that a digital asset could become something far bigger than the image attached to it. And by the time much of the world noticed, it was already too late to be early. The Frustrating Thing About History Of course, we know how the story ends, and that’s what makes the beginning so fascinating. After a slow burn, the collection minted out within hours once the artwork was revealed. Floor prices went through the roof, with headlines shouting about six and seven-figure sales. People who’d never heard the words ‘non-fungible token’ suddenly discovered an entire digital culture that had been developing while they weren’t looking. By the time the wider world wanted in, the door was closed unless you had deep pockets. And perhaps that’s why those two numbers have become so recognisable within NFT history; 10,000 - 0.08 ETH. $236 to be exact, as the last Ape was minted. That starting line raises a question. What if you could stand at that starting line again? Not to rewind history. You can’t. Not recreate what happened. You shouldn’t. But take what we now know about digital ownership, community, art and NFT economics and ask yourself: What would 10,000 Apes launched from the same economic starting point look like in 2026? Liquid Apes intend to find out. <gallery cols="2" fit="contain" ![Liquid Ape sunglasses and green jacket](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/yqcr0d3khsg.jpg) ![Liquid Ape Zombie character art](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/out5bwjn1jl.jpg) </gallery Same Starting Line. Different Rules. Liquid Apes is a collection of 10,000 original, hand-drawn Apes, created by an artist who, for now, will remain behind the curtain. That anonymity won’t last forever, and people will recognize his name. The collection is unapologetically international, influenced by different countries, cultures, characters and stories. We’re not trying to reproduce the earlier generation. We honour the Ape legacy without imitating it, with our own hand-drawn style and global perspective touching every corner of the collection. We borrowed the starting point. Everything else is ours. Yes, there will be 10,000 Apes, and we’re picking up at the precise economic point where the first chapter left off. But then we’re changing the rules. There’s an important distinction here. Liquid Apes isn’t an attempt to improve somebody else’s artwork, appropriate an existing community or suggest that a foundational piece of NFT history can be simply recreated five years later. The project only makes sense because of the respect we have for what the first generation achieved. They demonstrated how powerful the combination of digital ownership, art and community could become. They captured imaginations, crossed into popular culture and helped take NFTs from niche into mainstream conversation. They became icons, and that legacy deserves to be recognised. ![Liquid Ape Pirate character art](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/ft56l2e88w4.jpg) But five years is a long time in Web3. Technology has moved on, and the market has learned some painful lessons; we understand far more about the potential and limitations of the traditional NFT model than we did in 2021. So Liquid Apes isn’t asking whether that moment can be recreated. It’s asking what comes next. The most obvious difference is the artwork, the international characters and a completely new generation of Apes. The difference that really matters can’t be seen at all. It’s inside the NFT itself. ![Liquid Ape Beanie with gold glasses](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/tgmxscw6rkd.jpg) Why Does Liquidity Matter? It matters because the world is waking up to the difference between an NFT having a floor price and an NFT having value. You can list an NFT for $10,000 and call that its floor price. But until somebody hands over the cash, that number doesn’t put a penny in your pocket. Without a buyer, a floor price is simply an asking price. Yours has to undercut everyone else’s to be appealing, and an NFT is only worth what someone is prepared to pay for it. That’s flaw number one. No buyer = no value. Then there’s the floor itself. The traditional way of trading NFTs makes it surprisingly easy to create the appearance of demand through wash trading. Hold back a batch of NFTs, trade them between connected wallets and your floor is climbing and your collection looks hot. Real buyers pile in thinking they’ve found the next big thing. Those cheaply held NFTs get dumped into the demand and, when the music stops, someone else is left holding worthless JPEGs. Liquid NFTs changes that relationship, and that’s the secret sauce that makes Liquid Apes so much more than a social experiment. ![Liquid Ape Ninja character art](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/4zg9fgtt6tb.jpg) When a Liquid Ape is minted, half of the mint price is locked into the NFT as real liquidity. That creates a liquidity-backed floor from day one. With every trade, that underlying liquidity grows, because it earns a portion of the platform fee. And it doesn’t stop there. Fees from every transaction on the Liquid platform trickle into a pot shared across every NFT minted on Liquid. So the liquidity grows again. And when an owner eventually wants to leave, they have options. They can sell their NFT in the usual way, with its underlying liquidity intact - and don’t underestimate the collectability of these NFTs, or the potential of being part of a growing Liquid ecosystem. But what if you want out now and nobody wants to buy your NFT? Redeem it. Its underlying liquidity can be claimed without waiting for another collector to come along. Far from being a vague promise of what somebody might pay in future, floor price is driven by the actual liquidity inside your NFT, accessible only to the wallet that holds it; the cash can be back in that wallet with two clicks. ![Liquid Ape Cowboy with lasso](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/fvl1qk32jjb.jpg) The Experiment We know what happened when 10,000 Apes launched under the traditional NFT model. So what happens when another 10,000 begin from the same starting point, but this time with real liquidity built into every NFT from day one? We don’t know. And that’s rather the point. Calling Liquid Apes a social experiment isn’t marketing shorthand. The comparison has been deliberately constructed: the same supply, the same starting value, but with five hard years of crypto lessons in the rear-view mirror and a completely different economic model. There is no claim that history will repeat itself. It might, but nobody can make that promise, and anyone who does should be treated with suspicion. But, you have to admit, there’s something irresistible about being there as the question plays out. The original Ape phenomenon began before most people understood what NFTs might become. By the time they did, they were too late to be early. The chance to be there at the beginning had gone. ![Liquid Ape mural graffiti artwork under urban bridge](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/fmbp2i4ba1.jpg) This Time, You’re Awake You know what happened before, and how far an Ape collection once travelled from its starting point. You know what five years of NFT history has taught us, good and bad. And now another 10,000 are stepping up to the line, with a different engine idling underneath them. What happens next belongs to 2026. When it comes to reading NFT history or participating in it, timing is everything. Everybody can recognise a phenomenon after it’s happened; being there before anyone knows the ending is something else entirely. Liquid Apes hasn’t minted yet, but the whitelist is open. The community is forming and the story is creating whispers. Not everyone who applies for a whitelist spot will get one. Places are limited, and we’re looking for more than wallets. Get involved. Share the story. Bring people into the conversation. Make some noise. The people creating the momentum are the ones we’ll notice, and if you want a place at the starting line, give us a reason to put you there. ![Liquid Ape Biker on motorcycle](https://zuauvfzyrmvqnlmkpmxs.supabase.co/storage/v1/object/public/images/public/article-media/oqtow5tgmi.jpg) And then, before the public mint later this month, we’re going to have a little fun. An audacious undercover campaign is about to take Liquid Apes somewhere it has no business being. Right under the noses of the traditional NFT world. We won’t spoil that story here. You’ll know it when you see it. There’ll be plenty of time afterwards to decide whether Liquid Apes became an interesting experiment, a new model for NFT economics, a cultural phenomenon or something nobody predicted; that will become clear with hindsight. Right now, there is only the starting line. 10,000 Apes. Real liquidity locked inside every one. This time, you know the history, and understand the potential. And if you want to see what happens next, you don’t have to read about it afterwards, because you’re already here, asking ‘what if...’? So are we! Website: [liquidapes.com](https://www.liquidapes.com) Protocol: [liquidnfts.finance](https://liquidnfts.finance)

Read Full Feature
Deep Dive Issue 14 4 min read

Your First Wallet: Beyond the Exchange

By Robert Stone

A wallet is not a place where your coins live. The coins live on the blockchain. A wallet is the set of keys that prove the coins are yours. Lose the keys, lose the coins. Hand the keys to someone else, hand them the coins.

Partner ShowcaseCurated Industry Pioneers

Products & Protocols Powering Web3

01/02
PartnerLiquidNFTs
Sponsored Center Stage
Liquid NFTs Ads
Learn More
CryptoMagazine Annual Subscription
Annual Pass
6 Print Editions / Year
Subscriber Privileges

Tangible journalism. Delivered to your desk.

While news moves fast on social feeds and RSS, the strategies that build generational wealth require deep, deliberate focus. Our heavyweight print editions and unrestricted digital library deliver uncompromised research you keep forever.

6 Collectible Print Issues

Heavyweight 120gsm archival paper & foil-stamped covers

Full Digital & Archive Access Packages

Instant PDF downloads.

Priority Global Shipping

Tracked worldwide delivery in custom protective mailers

Annual Subscriber Savings

Save up to 33% compared to individual single-issue retail price

In Print

From the magazine.

Featured articles from the latest issue. Read full pieces online, or buy the back copy.

Feature Issue 15

What If You Knew Then What You Know Now?

By Adele

Five years after 10,000 Bored Apes changed digital culture, Liquid Apes returns to the iconic 10,000 supply and 0.08 ETH starting line; this time, with built-in liquidity.

Read Full Article
Feature Issue 14

The Market Is a Mirror: The Psychology Nobody Teaches You

By Robert Stone

I have watched people lose money in crypto for years. Not because they picked the wrong coin. Not because the market was rigged against them. Because…

Read Full Article
Investing Issue 14

What to Actually Do With Your Crypto This Month

By Robert Stone

Feature Opportunities Earning Without Buying: The 2026 Airdrop Playbook Robert Stone @StoneOnChain Some of the largest wealth transfers in crypto over the past two years have gone to people who never bought a token. They were paid for using it. The product was new, the team was generous, and the people who showed up early walked away with allocations that, in several cases, ran into six and seven figures.

Read More
Culture Issue 14

What Mert Mumtaz Thinks

By Adele

Staying Secure Crypto Security Every scam in crypto follows a script. The names change, the tokens change, the platforms change. Learn it once and you become the person it cannot reach.

Read More
DeFi Issue 14

Earning Without Buying: The 2026 Airdrop Playbook

Feature Opportunities revenue to buy their own token from the open market, which concentrates value into the hands of everyone holding it. Some distribute fees directly to those who provide the platform’s liquidity. Some reward active users with a stake in the platform itself.

Read More
Investing Issue 14

Inside the Mind of the Smart Money

Education Perspectives Two investors decide to buy Bitcoin on the same Tuesday. One spends six minutes deciding. The other spends six months.

Read More
...
For Advertisers

Reach an Audience That Actually Matters

Every edition of Crypto Magazine delivers thoughtful analysis, practical insight and trusted journalism to a global audience of investors, founders, business leaders and blockchain professionals. If your business serves the digital asset economy, there's no better place to tell your story.

Request Media Kit

695K+

Readers Worldwide

22

Countries

Bi-Monthly

Print

Trusted

By Investors, Founders & Leaders

Annual Subscriptions

Six issues.
One year of uncompromised research.

Receive every collectible print issue delivered to your door with free priority shipping, complete digital archive access.