2 minutes and 20 seconds could net you $100K

Nikon is getting into the user generated content game. The photography giant today announced plans for a new marketing campaign called the “Nikon Festival” that will award $100,000 for the best 140-second video.

The festival is meant to help promote the company’s D5000 camera, a digital SLR that also shoots 720p video – though entires will be accepted from any camera. Users are being asked to submit short films for the next six weeks with the theme “A Day Through Your Lens” at www.nikonfestival.com.

Actor Rainn Wilson, Internet personality Justine Ezarik (iJustine) and photographer Chase Jarvis will help select one of two winning films, which will be announced in January. The second winner, as selected by visitors to the site, will pocket $25,000.

Contests surrounding UGC are nothing new, of course, but given Nikon’s big user base – both professional and amateur – there could be some interesting things coming from this. And there’s a lot of room for potential growth to the world of Web video even after the awards are handed out.