YouTube today confirmed that it was announcing the first-ever YouTube Video Awards, a significant award established to recognize popular YouTube videos.

The 2007 YouTube Video Awards commemorate the site’s most popular user-created videos of 2006.

The company is only offering winners a trophy, despite the fact that the popular user-generated content the award highlights has contributed significantly to YouTube’s $1.65 billion valuation.

The categories and the nominees are:

• Most Creative ‚Äì Innovative And Cutting Edge Video
• Most Inspirational ‚Äì Things That Make You Think Or Feel
• Best Series ‚Äì The Best In Serial Entertainment
• Best Comedy ‚Äì They Had Us In Stitches
• Musician Of The Year ‚Äì Celebrating YouTube‚Äôs Home-Grown Musical Talent
• Best Commentary ‚Äì The Bloggers Who Caught Our Attention
• Most Adorable Video Ever ‚Äì So Cute It Hurts

You can vote for the “So Cute It Hurts” video and others starting today and ending on Friday, March 23. YouTube Video Awards award winners will be revealed on YouTube on Monday, March 25.

Winners from each category will be featured on the site and will receive a trophy to honor their achievement.

“We want to honor and celebrate the individuals who helped foster the community through their creativity,” said Mia Quagliarello, director of programming for YouTube. “We hope that this recognition will continue to inspire users to create content that entertains and informs.‚Äù