MC Hammer is going to launch his own version of YouTube, called DanceJam.com starting this January.

It will focus strictly on dance videos, drawing on the popularity of shows like So You Think You Can Dance and Dancing With The Stars. The site will also stage head-to-head dance competitions where contestants can submit videos to be judged by viewers.

MC Hammer, whose real name is Stanley Burrell, was a pop icon in the early ’90s, but later became bankrupt in 1996 with nearly $14 million in debts.

He hopes to cash in on the rapidly growing internet advertising market, which is expected to bring in $27.5 billion in 2008.

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