The network said the show, which honors digital music and fandom, will take place April 28 at a "mystery location" in Las Vegas. The hour-long live show will stream online and on mobile.
The show includes categories like "must-follow artist on Twitter" and "best fan cover." Fan voting will decide the awards. MTV says 1.9 million votes have been cast.
Rapper Chidera "Chiddy" Anamege of the hip-hop group Chiddy Bang will try to enter the Guinness World Records for longest freestyle rap.
Other scheduled performers will include Lupe Fiasco, Lil B, Matt & Kim and Mumford & Sons.
The Associated Press contributed to this report.