Chinese company Alibaba has just announced that they will be hosting an eSports tournament that will pay out a total of R5.5 million (R80 million).
The tournament is going to be called the World Electronic Sports Games (WESG) taking place in China during December.
The event will have a CS:GO competition with a $1.5 million (R22 million) prize pool, which is a much higher valued prize pool than the Majors at $1 million (R14 million) and the $1.2 million (R17 million) for the ELEAGUE each season.
WESG will feature a host of international teams who will be selected via a qualifying process starting in April.
Alibaba says that future events may take place all over the globe and the company has gone so far as to encourage other countries to send through applications for WESG in 2017.
The e-commerce giant has put their own Alisports in control of the event. An anti-doping policy is being developed for the tournaments hosted within the WESG.