Apple is on the cusp of a major milestone as the App Store nears its 50 Billionth app download; and it plans to give users the chance to benefit from the celebration.

The company will be giving the person who downloads the 50 billionth app a $10,000 gift card to the App Store. Those lucky enough to download one of the first 50 apps after the milestone is reached will receive a $500 gift card.

It was just last March that Apple held a similar event for 25 billion app downloads. The winner was Chunli Fu of China, who downloaded the free version of “Where’s My Water?” and ended up with a $10,000 iTunes gift card.

The 50 billionth download comes less than five months after Apple announced its 40 billionth app download in January.

Originally launched in 2008, the App Store is home to more than 775,000 apps.

In order to win one of the 50 available $500 gift cards, you’ll to fill out an entry form. Apple has set up a dedicated page where you can view the countdown to 50 billion downloads.

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Image: Michael Gil