Upload video for P2P Currency Exchange; win $ 10,000
Online peer-to-peer (P2P) currency exchange fxaworld.com is harnessing the power of youtube by offering a prize of ,000 for budding film-makers to create a short film about the company and post it on the video-sharing website.
FxA World allows its members to trade currency directly with each other online and to set their own exchange rates, effectively cutting out the banks and broker middlemen. It can be used by businesses trading with customers and suppliers in different countries or individuals, for example, buying property overseas. It works by connecting buyers to sellers directly, in the same way that eBay has revolutionised online auctions.
The guidelines for the competition entry are simple with the rules stating that videos must be no longer than 45 seconds, represent FXA World "values" such as 'exchange', 'currency', 'experience', 'innovation', 'vision' and 'peer to peer,' and contain no profanity, nudity or political statements. Apart from these basic guidelines, everything else is left down to the artist to decide on.
Vijay Kumar, CEO at FxA World said, "We are primarily a P2P business using the power of the internet. When we looked at the concept of YouTube bringing users together it is conceptually the same values. If you look at the value proposition of our business it's about how we eliminate the middleman and our strategy is in line with that."
The final decision on the winner will be made by FxA World judges on 1 June 2007; the popularity of the video on YouTube will be a "critical factor for success", along with the aesthetic quality of the film and how well it conveys the key values of the company. Kumar added "What we are doing will become more mainstream and more companies will go this way and utilise Web 2.0 for marketing. We want to involve our customers in what we do through this competition and to have some fun at the same time."
For competition entry information, click:
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