48 Hour Magazine is a new venture; so new, in fact, that it doesn't yet exist. It will depend on crowd-sourcing and social media, but the end result will be old-school: a printed magazine, glossy pages and all.

On May 7, 2010, the magazine staff (more on them later) will reveal the theme of the first issue, which they're calling "Issue Zero." Anyone who wants to participate has 24 hours to create and submit text, photos, or illustrations that relate to the theme.

Then the staff will jump into action, taking the next 24 hours to select the best content, edit the text, design the magazine, and send it to MagCloud for printing. They're planning on a 48-page issue. Somehow, they'll also shoehorn the development of an accompanying website into those 24 hours.

And finally, Issue Zero will be available on MagCloud for anyone to buy.

Content creators won't be paid, but they will have a say in how profits (if any) are spent. The 48 Hour Magazine website states, "Every dollar that comes in or goes out will be transparent. We have a handful of sponsor slots open and we're going to sell the magazines at a slight markup over the production cost. We have something special in mind for the profits, but every published contributor will get to vote on where the funds will land."

The magazine staff members are an impressive bunch: Heather Champ, Dylan Fareed, Mathew Honan, Alexis Madrigal, Derek Powazek, and Sarah Rich.

For more information, check out the 48 Hour Magazine website and Twitter feed.