San Jose-based Gaia Interactive has announced that it will host the "Rejected Olympics," a humorous interpretation of this year's Olympic Games, as a free event in social network and MMO Gaia Online from July 21-27.

In its Rejected Olympics event, users will be able to take part in 100 offbeat games, such as watermelon chopping and connect the dots, all while socializing with other Gaian Olympians. Participants will also earn in-game gold and a chance to win daily virtual prizes. Virtual gold, silver, and bronze medals will be rewarded to the three top scoring teams at the end of the week-long event.

Earlier this week, the company announced that it had picked up an $11 million Series C round of venture funding from VC firm Institutional Venture Partners. Gaia Interactive intends to use its new capital to grow and develop new site elements for Gaia Online.

Said Gaia Interactive vice president of creative and user experience Scott Kinzie: “The Olympics are an aspiration for millions of our users, and we think the Rejected Olympics is a fun, irreverent way to bring the energy and enthusiasm around Olympic competition to our community. We’re continually looking for ways to provide our users with online experiences that take their real-world interests to a whole new level.”