Virgin Blue Boss Richard Branson has launched what he says is the “first truly digital” magazine for Apple’s iPad. Called Project, the publication is a monthly style and culture magazine that will be sold through Apple’s App store.

The publication has been launched ahead of the much publicised digital magazine for the iPad called The Daily, which is due to be launched by Rupert Murdoch’s News Corporation.

Murdoch is endeavouring to find a sustainable model for his online newpapers, which have recently suffered in circulation since the increased competition from free content on the internet, and the switch by The Times online newspaper to charge online subscribers.

Branson’s new project was launched in New York and features video, sound and links to augment features on topics such as a new Jaguar car prototype and the film Tron: Legacy.

The magazine will cost around AU $2.90, and will eventually be made available to other tablet devices.