The unorthodox gamble of crypto's edgiest new publication

The Unorthodox Gamble of Crypto’s Edgiest New Publication

Last Updated: August 28, 2024By

The world of cryptocurrency has always been rife with innovation, but it also faces a notable demographic imbalance: too many men, too few women. This disparity has not gone unnoticed by the newest player in crypto culture—Superbasedd, an audacious lifestyle magazine rooted in the vibrant streets of Los Angeles. With barely a month under its belt, this startup is poised to disrupt the crypto scene by catering to its primal instincts, all while betting big on a seemingly archaic medium: print.

On the cover, expect to find a striking woman, her allure undeniable. Flip to the back, and you’re greeted by the stern gaze of a male startup founder, an authoritative figure within the crypto trenches. Sandwiched between these visual bookends are stories drawn from the chaotic, often outlandish world of crypto trading—a world where fortunes are made and lost in the blink of an eye.

“We’re all dudes, we’re all degenerates, and if there’s one thing I know about degenerate dudes, they love women. And that’s a really good way to start a brand,” declares Superbasedd founder Steve McHugh. His candor is as stark as the magazine’s strategy: use women as the “bait” to reel in readers, then hook them with in-depth cultural pieces that delve into the heart of the web3 revolution.

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But in an era where digital media reigns supreme, can a print magazine survive, let alone thrive? Superbasedd is banking on the answer being “yes,” though the odds are steep. Iconic titles like Playboy are only now attempting a return to the newsstands, testing whether sex and culture can still sell physical copies. While Playboy once boasted broad cultural appeal, Superbasedd narrows its focus, targeting a niche demographic: young men obsessed with crypto. McHugh insists that their female-forward marketing is aimed at “guys” in general, but the subtext is clear—this is a magazine for the crypto bros.

The magazine’s “dangerous” content strategy mirrors its unconventional team. Take McHugh’s business partner, Jake Hillhouse, a wiry figure who was recently slated to fight at a Karate Kombat event in Singapore. Unfortunately, a dune buggy accident left him with a shattered elbow, forcing him to attend our impromptu interview with his arm in a sling and a hospital wristband still clinging to his wrist.

Despite these setbacks, Superbasedd isn’t short on capital. Earlier this month, the fledgling publication raised nearly $1.1 million by selling NFTs bundled with a three-year subscription—though the print edition has yet to launch. A separate one-year subscription option will soon be available for $99, promising exclusive access to the magazine’s unique blend of content.

McHugh is adamant that Superbasedd will spotlight aspects of the crypto world that mainstream media outlets either ignore or fail to grasp. While publications like Decrypt have reporters dedicated to documenting the eccentricities of the industry, Superbasedd aims to push the boundaries even further, diving headfirst into the bizarre and often obscene corners of crypto culture. Think of the meme-coin factory Pump.Fun, where creators have resorted to stunts like smoking crack and shaving their heads on livestreams, all in a desperate bid to inflate their token’s value.

“Our edginess is going to start with the girls and then end with crackhead dev,” quips Hillhouse, succinctly capturing the magazine’s ethos.

Yet amidst the wild tales and outrageous antics, Superbasedd also plans to offer serious journalism. The inaugural issue, set for an October release, might feature interviews with Solana’s founders, Raj Gokal and Anatoly Yakovenko, providing a rare glimpse into the minds behind one of crypto’s most talked-about blockchains.

It’s undeniably strange to see a crypto-centric publication betting on print in the digital age, a medium many consider all but extinct. But Superbasedd is not just about reviving print; it’s about infusing it with the aesthetics of the Instagram era. The strategy is simple yet bold: captivate with provocative imagery, then sustain interest with sharp, engaging articles that break down complex stories into easily digestible nuggets—much like a well-crafted thread on X.

McHugh envisions Superbasedd becoming a cultural artifact, a publication with enough swagger to adorn any opulent coffee table in the Hollywood Hills. He’s wagering that America’s celebrity culture, with its trickle-down effect, will make the magazine relevant beyond the confines of the crypto community.

For now, though, Superbasedd is laser-focused on its core audience—the die-hard NFT swappers and Solana enthusiasts who embody the magazine’s spirit. Recently, the publication acquired the intellectual property for Catalina Whale Mixer, a once-popular NFT collection with a $2.5 million market cap, for a mere $50,000. Next on the agenda: taking over the Thug Birdz NFT collection.

The magazine’s three-man team recently made an appearance at mtnDAO, a twice-a-year gathering of Solana developers in Salt Lake City. McHugh, a veteran attendee, sees these in-person crypto workspaces as essential for accelerating the bizarre and risky ventures that define this industry—like launching a print magazine in a digital world.

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About the Author: Eunji Lim

Eunji lim