I was right. Vanishing Point prize a trip into space, and more ...

If this photo by Long Zheng can be believed, then I was right with my gut reaction to Vanishing Point. The grand prize is indeed a trip into space. Read the last paragraph.

Other prizes apparently answer the part about being "immortalized", as the winner's name will end up in a computer chip. Maybe the chip in question is the new smaller processor for the Xbox 360? How could would that be?