Rhizome has announced the creation of Prix Net Art, a $10,000 international award for new Internet art, to be awarded for the first time this fall. The “no strings attached” prize, as well as a second place prize of $5,000, will be awarded on an annual basis through 2016.

The prize is being given in conjunction with Beijing’s Tsinghua University Art and Science Media Laboratory (TASML) and a shadowy organization called CAT/CCIA—the first part is short for “Center for Art and Technology,” a “research and creation subsidiary of CCIA” that claims to aim “to develop and promote cutting edge cultural projects.” There is no clue as to what this CCIA parent organization is, and the top Google hits for the acronym, Community Currencies in Action and Columbia Communities in Action, seem unlikely to be related. artnet News’s best guesses? Community Creativity in Action or California College of Internet Art.

Rhizome describes the new award, which looks to offer recognition to a medium often overlooked in favor of more traditional ones such as painting, sculpture, and photography, as “timely.” It simultaneously “celebrates the current moment of internet art and looks ahead to its future.”

“This prize gives a boost to those who continue to make art on the internet, and emphasizes the unique cultural importance of such work,” reads the announcement. “We’re thrilled to work with our partners to acknowledge significant internet artists who continue to be committed to working online, who have inspired us in the past, and whose best work still lies ahead.”

Nominations for the inaugural award are open through August 31. The jury charged with selecting the first winner includes Rhizome curator Michael Connor and new media art professor Zhang Ga, among others.