We already heard rumors that entrepreneur Richard Branson had plans to launch an iPad-only magazine called Project, and now reports are coming in that mag will officially launch tomorrow. A video of Project magazine’s first cover featuring Jeff Bridges, star of upcoming movie Tron, is posted below c/o of the mag’s official Vimeo account.

Project magazine is a self-described “new magazine for the digital age” and plans to feature pop culture topics ranging from gadgets to movies, fashion, and internet culture. There is no word on pricing or any demos off the magazine in action on an iOS device, but we are certainly excited to see what happens when the following iTunes link goes live tomorrow, Tuesday morning.

The launch of Branson’s Project magazine comes ahead of a major joint announcement expected from Rupert Murdoch and Apple CEO Steve Jobs regarding an iPad-only publication and subscriptions in the coming months. Video of Project magazine’s first cover for their December issue is below:

[Project on Vimeo and 9to5mac]