ReadWriteWeb

Contextual ad platform Textwise launched SemanticHacker.com today, a contest for applications and business plans built on the company's semantic analysis technology. While the new API is offered for free, the contest will award three winners with $100k and one winner could score up to $1 million based on subsequent commercialization.

Semantic APIs only make sense, superior contextual advertising is clearly the most obvious cash-cow of semantics and a bounty sounds like a good idea - but there's something about this contest that doesn't quite feel right.