The Turner Prize is a prestigious annual award presented to a British visual artist. Established in 1984, it aims to promote contemporary art and recognize outstanding contributions in the field. The prize is named after the 19th-century painter J.M.W. Turner and is awarded by the Tate gallery. Artists are nominated based on their work from the previous year, and the winner is chosen by a panel of judges. The prize includes a monetary award and often leads to increased visibility and opportunities for the winning artist. The Turner Prize has become a significant event in the art world, attracting public interest and debate.