In an effort to celebrate the world’s best and worst book trailers, Melville House has launched the first annual Moby Awards–a genuine red carpet ceremony held at The Griffin in Manhattan on Thursday, May 20, 2010.

They are now accepting nominations for a variety of categories: Best Big Budget Book Trailer; Best Low Budget Book Trailer; Best Cameo in a Book Trailer, Best Author Appearance in a Book Trailer and Least Likely to Actually Sell the Book.

The awards will be judged by a panel of publishing folk, including this GalleyCat editor, Slate.com‘s Troy Patterson, the LA Times‘ Carolyn Kellogg, OR Books’ Colin Robinson, and Melville House Publishing’s Megan Halpern.

Email here to RSVP. More details about the event follow after the jump.

Here’s more from the release: “Awards will be presented for book trailers that were produced between April 2009 and April 2010, whether by authors, editors, big houses, or little indies. The event is open to all publishing and media professionals, authors, and their guests. Indie publisher Dennis Loy Johnson, founder of the venerable book blog MobyLives, will be the host, and acclaimed novelist John Wray, and other surprise celebrity guests, will open the envelopes to read out the winners and present them with their trophies.”