Here’s some info from the article about what’s involved:
The first round of the contest—in which contestants design magic items—opens December 3 and closes on the 31st. The top 32 entrants, as judged by a panel of four RPG pros—then create a class archetype. At this point, the public takes over the voting and determines who proceeds to the later levels.
The 16 best of those go on to create a villain. The top 8 of those build an adventure location. The final 4 submit proposals for a full adventure. The winner gets hired to actually write all 32 pages, while the runners-up chip in 16-page versions of their ideas instead.
[via Tor.com]