Gwyneth Paltrow and board Apple's first series, "Planet of the Apps"

Gwyneth Paltrow attends amfAR's Inspiration Gala Los Angeles on Oct. 29, 2015, in Hollywood, California.

Alberto E. Rodriguez/Getty Images

Apple is getting into the content game with its first series, "Planet of the Apps," and it's lined up some major talent.

Gwyneth Paltrow, and entrepreneur and investor Gary Vaynerchuk will serve as judges for the reality competition series that will set out to find the next great mobile app, with Paltrow and the Black Eyed Peas impresario also serving as executive producers.

Contestants will be vying for $10 million in venture capital funding and a featured spot in the App Store. Open casting is currently underway.

"Developing and launching a business based on your own original idea can be exhilarating, but intimidating," Paltrow said in a statement. "This is a great opportunity to be part of a series that lets us use our experiences to help app developers break through and create viable businesses that will impact peoples' lives."

Filming is set to begin on the first season of "Planet of the Apps" later this year, though it is unclear as of yet where or how the series will be distributed.