I discovered the event while I was trying to get the first version of my novel published. The event's web site describes it this way:
What: Writing one 50,000-word novel from scratch in a month's time.
Who: You! We can't do this unless we have some other people trying it as well. Let's write laughably awful yet lengthy prose together.
Why: The reasons are endless! To actively participate in one of our era's most enchanting art forms! To write without having to obsess over quality. To be able to make obscure references to passages from our novels at parties. To be able to mock real novelists who dawdle on and on, taking far longer than 30 days to produce their work.
When: You can sign up anytime to add your name to the roster and browse the forums. Writing begins November 1. To be added to the official list of winners, you must reach the 50,000-word mark by November 30 at midnight. Once your novel has been verified by our web-based team of robotic word counters, the partying begins.
Where: You write wherever you’d like. On your computer, on your iPad, on a typewriter---anywhere is fine, just as long as you’re writing!
The reason I mention it is today (Nov.1) is the first day of the event. So if you want to participate, you'll want to register at the site.
I am not participating this year. I'm deeply engrossed in revising my first novel so I can put it back on the market, begin revision of novel #2, and start writing novel #3. I may participate some other year as it is looks like fun. So if you've been wanting to start a new novel, and need the structure of the event to get started, go for it.