Flickr is currently having a contest to look for the five best images on Flickr. It is called the “Blink of an Eye” contest and the idea is that each user can submit one photo for consideration and then a panel of five judges will sift through them and choose the best five.

The shots will then be put on display at a one-night exhibition at a gallery in New York later this August.

What an interesting challenge. I think more social based services should have these types of contests, maybe with different rewards, but it’s an interesting idea. What if Gada.be had a “5 best tags” contest, or del.icio.us has a “5 best url’s” contest? Wouldn’t that be pretty interesting from both a user perspective and a company perspective.