"We artists can no longer call ourselves artists just by discovering and providing something special," said Takashi Murakami, a Japanese artist who is part of the jury.
"In a way, YouTube is a medium inciting revolution and terrifying us with a Katana (samurai sword). We must challenge YouTube on a daily basis."
Submissions being considered included some from students, filmmakers, composers, comedy groups, musicians, video game programmers, and a women's chess champion.
Videos by the finalists can be viewed online at youtube.com/play and those selected for the exhibit will be available internationally at the YouTube Play channel.
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