Along with Moby, a star-studded panel of judges will choose the winners, including REM's Michael Stipe, the actor and musician Jack Black, actor and comedienne Janeane Garafolo, Oscar-winning Michael Moore, director Gus Van Sant and Pearl Jam frontman Eddie Vedder.
The Washington lobbyist and media personality James Carville is also on the panel.
Moby has said on his website: "Year after year, a few dozen Washington consultants make the great majority of political ads. They look the same, they sound the same and even the actors seem familiar. Perhaps as a result, voters tune out, even when there are critically important messages to convey.
"That's why we launched Bush in 30 Seconds, an ad contest that's intended to bring new talent and new messages into the world of mainstream political advertising. We're looking for the ad that best explains what this president and his policies are really about -- in only 30 seconds."
Moby said that the ad will be broadcast during January's State of the Union address.
The musician has long been involved in the world of commercials, with every single track from his 'Play' album being licensed to be used in television ads around the globe. Moby, a vegan, has also used his high profile to push causes he believes in, such as supporting a Peta campaign against eating turkey at Thanksgiving.
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