They are providing prizes for 3 winners. You can read the detail of prize here:
Prizes for 1st Winner
1. WordPress SEO Service from ShoutMeLoud.com = $500
2. KeyWord Winner Plugin from KeywordWinner.com = $77
Prizes for 2nd Winner
1. Thesis Theme from WPPluginsBlog.net = $87
2. Thesis Customization Service from TricksDaddy.com = $150
Prize for 3rd Winner
1. 1 Year Platinum Membership from Blogenage.com = $120
2. OIOPublisher Plugin from TechieMania.com = $47
The prizes is very useful for wordpress blog owner. Personally, i want to grab Keyword Winner because it will help me to do keyword research.
So, how to participate?
There are 2 compulsory ways to get participated : Making a Blog Post and Joining WPPluginsBlog FB Fan Page. But you can get a bigger winning chance by doing more simple activities such: Facebook fan page or make more blog post. There is also cash prize to be won. If you want to get a chance for cash, you need to make video about the contest. The winner will be determined by using a service from random.org. Winner will be announced on January 1st, 2011.
To get more detail, just visit their contest page here: WP Plugins Blog $1000 Contest
Note: Make sure to leave a comment after you make any entries, so they can track it and count you into the contest.