Rockstar Games, the publisher behind Timbaland's new PSP game Beaterator, announced the launch of the Beaterator Band Challenge this week, where MySpace artists can compete for a $5,000 prize.

To compete for the prize, artists must a track using the song-crafting tools provided by Rockstar Games and Timbaland on "Beaterator," the new game they dub the "revolutionary mobile music-making application."

To enter the Beaterator Band Challenge, artists must fill out an entry form at Beaterator.IGN.com, and Rockstar Games will choose up to 100 bands and musical artists as semi-finalists and will provide them with a PSP system and a copy of Beaterator, including all the information necessary to create a song using its software.

Each semi-finalist that submits a qualifying Beaterator track will be showcased on the contest website, and the MySpace and IGN communities will have the opportunity to vote for their favorite submissions.

The winning artist or band will receive $5,000, have their winning track featured on the PlayStation Network, and they will also have the opportunity to be featured on the MySpace homepage.

Timbaland's Beaterator game is out now on the PSP and will be released this fall on the iPhone and iPod touch.

For more information on Beaterator, log onto RockStarGames.com/Beaterator.