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Clipstar is a new community that's set out to find the world's undiscovered talent. There will be contests on Clipstar with a $10,000 cash prize given out every 3 months, with an opportunity to win $1 million for the yearly "finals."
In order to help users gain traction with their profiles, there are several options for sharing content and saving it to your own favorites. Video clips can be embed on other sites, and you can also save clips to your own playlist. The sharing stops here, however. Playlists cannot be embed, which would be another good way to help users help themselves when it comes to spreading content across the web. Users get a blog and a calendar as well, which can be used to mark new content they've added to their profile.
Unfortunately, there aren't many differentiating factors for clipstar to play up, but the site has a good design, easy navigation, and some hefty cash prizes for participants. Others in this space include cre8buzz, Fame or Lame, TalentBase.