San Diego-based Loop'd Network, an online video and photo sharing and social networking web site focused on sports, said today that it is in a strategic partnership with action sports watch firm Freestyle. According to Loop'd, the deal includes a weekly contest sponsored by Freestyle awarding people who contribute the best video and photo entries to the site. Loop'd also said that Freestyle will also provide a one-year sponsorship and a spot on its team. Financial terms of the deal were not disclosed. Loop'd Network is a Web 2.0-style web site for promoting athletes and their sponsors.