Check this out from Mashable:
YouTube has announced a project called Life in a Day, which attempts to document one day, July 24, seen through the camera lens of people around the world.
The project will be executive produced by Ridley Scott of Blade Runner and Gladiator and edited by Kevin Macdonald, best known for directing films such as The Last King of Scotland and One Day in September.
The film will premiere at the 2011 Sundance Film Festival; if your footage makes the final cut, you’ll be credited as a co-director, and 20 contributors will be selected to attend the premiere. If you’re hoping for financial gain, however, you’ll be disappointed; for this one, glory is your only reward.
To contribute to the project, you need to capture July 24, 2010, on camera, and upload the footage to the Life in the Day channel sometime before July 31. As for what your footage should consist of, YouTube wants you to have no limits, to be personal, to film anyone you like and to preferably film the footage in high resolution. You can find a full set of guidelines over at the official channel.
An introductory video for the project: