Breaker Magazine went out of business

According to Blockbeats, Breaker Magazine, which was founded in 2018, will be closed.

The BlockpostBreakerMag was launched last year as a separate unit of SingularDTV. SingularDTV, which calls itself a blockchain entertainment company, was renamed Breaker earlier this year.

The company is one of many prominent cryptographic media companies that launched in 2018, including The Block, in an effort to compete with CoinDesk and other mainstream media outlets for some market share in coverage of emerging markets.

BreakerMag stands out for its long stories, similar to those you might find in the New York times magazine or the New Yorker -- except that neither media has long stories about bitcoin and cryptography. Indeed, shortly after BreakerMag's foray into encrypted media, the publication conducted a jaw-dropping investigation into the state of "pay-in-play" in the cryptographic market.

According to staff reporter Corin Faife, Breaker's research found that most so-called encrypted publications -- including NewsBTC and AMB crypto -- were paid to write stories. "The prices range from as low as $240 to as high as $4,500, reflecting the size and coverage of the stores we surveyed," Faife reports.

From the perspective of the magazine's parent company, Breaker (formerly SingularDTV), the reason for the closure was a lack of a viable business plan and a high attrition rate, sources said. Its leadership includes its editor, Ben Schiller, who once ran a European management magazine. Schiller was a staff writer for Fast Company from 2011 to April 2018.

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