In a series of tweets on the VeChain Foundation official Twitter handle, the foundation has announced the commencement of the 2021 installment of the annual VeChain Community Video Contest.

This video contest debuted early last year as part of a series of events to celebrate the second anniversary of VeChainThor Mainnet.

The video contest will have five winning entries, with the winners sharing a total price of $50,000 in VET tokens, the foundation’s official cryptocurrency.

The winning entry is guaranteed a $20,000 grand prize, and the four runners up will share the remaining prize money equally.

As part of the rewards, the top 10 entries from the event will be added to the public playlist on VeChain’s official YouTube channel, and all the qualified videos will get a place in a playlist specially created for the event.

Interested YouTubers or VeChain node holders can make a video following all the requirements and upload it to YouTube to enter the contest.

While the contest was initially slated to end on the August 19, VeChain has extended the deadline to allow more community members enter the video contest.

In an update to the original announcement for the video contest, the VeChain Foundation announced significant enhancements to the prize pool, enabling the winner to walk home with up to $60,000.

The prize money to VeChain node operators and YouTube influencers will be increased depending on their category and numver of subscribers respectively. A node a user can get up to two times the original prize money.

YouTubers with over 10,000 subscribers also get boosts for winning. According to a blog released by the foundation, applicants can stack the prize enhancements. Popular YouTubers holding a VeChain node can earn up to $60,000 prize money.

VeChain Foundation started accepting submissions on the July 29, and interested VeChain node holders can still submit their video content until August 31, 2021.