This is a really great idea! I have so many interesting stories that I would love to share on here! You touched on one of the problems I run in to though. It would be disheartening to spend hours on writing a story just for it to not get read by only a few people. I have been lucky on a couple of my posts where one in particular received about 100 dollars from upvotes!
I would love to participate in something like this! As far as nominating someone, I would recommend @rebeccaryan! She is an extremely intelligent and skilled lady and all of her posts are always well written. She deserves more recognition than what she is getting in my opinion.