The new iPad-only magazine entitled “Project” was launched yesterday. Helmed by Richard Branson, Project is available as an iPad magazine where issues cost $2.99 each. A subscription option through iTunes is thought to be the next step for the magazine, and may be announced December 9^th at a media event.

The cover of the inaugural issue loans the talents of Jeff Bridges, toting an exclusive story on Tron 2. Project uses features such as “Spine”, “Action Buttons”, and “Plus Panels” that make the magazine more than simply a print-to-digital carbon copy. As such, the iPad-only magazine has the potential to be a new form of media. However, whether it lasts or not is a question we will see answered over the deciding next few months.