A literary prize is an award given to authors, poets, or playwrights for outstanding work in literature. These prizes can recognize various genres, including fiction, non-fiction, poetry, and drama. They often aim to promote reading and writing, encouraging new talent and celebrating established authors. Many literary prizes come with monetary rewards, publication opportunities, or increased visibility for the winners. Notable examples include the Pulitzer Prize, the Man Booker Prize, and the Nobel Prize in Literature. These awards can significantly impact an author's career, leading to greater readership and recognition in the literary community.