WePlay! has announced the first details about its first-ever CS:GO tournament, featuring a $50,000 prize pool.

Known for its Dota2 tournaments, the latest of which came to an end only last week, WePlay! is expanding into CS:GO with a 12-team invitational tournament, running from January 31 through February 3.

Eight teams will be split into two best-of-three, double-elimination groups, with the top two sides of both groups progressing to a single-elimination bracket, joining four invitees.

BIG and HellRaisers are the first two teams confirmed for WePlay! Lock and Load, earning direct entry into the playoffs, which will be held on February 2-3.

Below you can find the complete prize distribution for the tournament:

1. $25,000
2. $15,000
3-4. $5,000

More details about the competition, including the rest of the invites and the broadcast team, will be revealed in the coming weeks, WePlay! added.