Haha, I'm glad that Wordpress shows incoming links. It's cool that our project is already being discussed at other forums. And from the looks of it, on our launch day! Oh the power of the internet.
This project was created for people like myself who design things just for kicks. I know on occasion I've gone and completely redesigned a major company's site just because I wanted something to do. It's nice to design for yourself and not for a client sometimes. This is a chance to do just that.
No, we won't pay you, and we shouldn't have to. If you don't have the drive and passion to just design on a whim then you should pick another field that interests you more. However, yes, there will be prizes. As it says on our website we're currently doing test rounds. As soon as we're established we'll be holding more solid events where there will be prizes from some major retail companies. Right now we need the support of a handful of designers so that we can get off the ground and get this project moving. We are also slowly expanding down the coast and across the country, so not long from now you'll be able to compete in whichever major city is closest to you.
Coy, if you're in the Washington area why not give it a try? I'd be more than happy to see you come and compete with us

Bookmarks