2NE1 [YG Entertainment]

Girl group 2NE1 will hold a dance competition which will be open for participation by their fans all over the world.

The girls' agency YG Entertainment announced through a press release on Friday that fans can take part in the contest, to be held from July 8 to August 5, by uploading their cover of 2NE1's latest song "I am the Best" online.

The members of 2NE1 and their choreographers will then pick a total of 21 teams, to take first to fourth place, and hand them tickets to 2NE1's concert, products of Adidas that the girls' currently endorse or their stage wardrobe for "I am the Best."

This is not the first time 2NE1 has held such a competition -- several tens of thousands of fans took part in the cover contest for song "Lonely," member Park Bom's solo song, and voting is underway for 40 finalists on 2NE1's Facebook account.

"I am the Best" is the third track from 2NE1's upcoming mini-album, set for release on July 21, revealed to the public late last week.

The song was originally named "The Coolest" in English but was renamed to better reflect the Korean title, according to an official at YG.

The song has fared well so far, topping all online music charts in Korea on the day of its release and remaining No. 1 on a number of them.

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