My.Ology.com is a new social media (yes, another one) created for people to discuss their strongest passions with others.

They are giving $1,000 away to the first 50 people that create communities of at least 250 members. If you are on facebook, you probably already have over 250 friends. If you can get your friends to go over to My.Ology.com and join your community, your cash register may be ringing.

The site says that your community can be focused on any topic (e.g. sports, music, gaming, celebrities, etc.).

We think it looks like a cool concept. Will it really catch on… only time with tell that but you may be able to cash in if you are a social media fan.

To get more information go to: www.My.Ology.com