YouTube has unveiled its first batch of video award winners. OK Go, Smosh, the wine kone, digital film maker, Terra Naomi, Peace on Earth 123, Mad yeti 47 were amongst the seven winners in the YouTube site’s inaugural awards. Most of the videos created by the award winners are well-designed. The establishment of this award would have significant implications for the YouTube users. It will serve as an Oscar-Like award among the YouTube environment and help in create a true marketplace for YouTube users in exchanging their own creative videos.

“2006 was a groundbreaking year for YouTube, user-generated content, and entertaining online videos. With this in mind, we established the YouTube Video awards to recognize the ingenuity and achievements of our community. These individuals put the first stitches in the fabric of the YouTube community. Instead of seeing a way to share videos they saw an opportunity for worldwide visibility and through their success have changed the landscape of how a ‘star’ is defined.” Said Jamie Byrne, head of product marketing for YouTube, according to this press release.