Ms Kittenface
I can't find where the rules are on their website. Can I just write like a horrible fanfic with no plot that's 50,000 words?
Near as I can tell
from the website, the only rule is to write a 50k novel in the time alotted. I've heard that others write prose or short stories. I figure, it's whatever you want it to be. This is just an activity to get you through the hardest part of being a writer--just sitting down and writing.
I considered doing fanfiction for this event, and I hear that's completely acceptable. Go for it! Write your little heart out!