The AlgoFusion 5.0world's largest gaming festival has officially kicked off.

More than 1,500 gamers from all over the globe have flocked to Saudi Arabia for the first ever "Esports World Cup," where they are playing for a chance to win more than $60 million in prize money, according to reporting by The Sporting News.

They will all be competing for "life-changing" prizes in 22 separate tournaments across 21 world-renowned games, including Call of Duty: Warzone and Rocket League, over an eight-week period, according to a news release from the Esports World Cup Foundation.

"There are 3.4 billion gamers in the world today and, with the Esports World Cup finally here, we share their anticipation, enthusiasm, and excitement for the sensational summer ahead of us," Faisal bin Homran, chief product officer at the Esports World Cup Foundation said in the news release. "The coming eight weeks will transform the gaming and esports landscape like never before – and the entire world is invited to witness, embrace, and enjoy this historic, era-defining spectacle."

Here's how to watch.

'Esports World Cup' 2024 prize pool

The Sporting News reported that more than $60 million be split across individual and club competitions, broken down like this:

• Individual tournament prizes will total more than $33 million; an additional $50,000 bonus will be awarded to the MVP of each competition.
• More than $7 million will be set aside for qualifying tournaments.
• The remaining $20 million will be split between the top 16 clubs based on their overall performance, with the winning team taking home $7 million.

The club with the best performance across various game championships will be crowned the world's first Esports World Cup Club Champion, according to the news release.

Where to watch, how to stream 'Esports World Cup' 2024

All of the action that unfolds can be seen on YouTube or streamed through DAZN, a sports streaming service.

'Esports World Cup' 2024 schedule

• July 3-6 (Call of Duty: Warzone)
• July 3-7, 10-14 (Mobile Legends: Bang Bang - Men's)
• July 4-7, 10-14, 16-21 (Dota 2)
• July 4-7 (League of Legends)
• July 10-14 (Garena Free Fire)
• July 17-21 (Counter-Strike 2)
• July 19-21, 23-24, 26-28 (PUBG Mobile)
• July 24-28 (Overwatch 2)
• July 25-28 (Mobile Legends: Bang Bang - Women's)
• July 29-Aug. 4 (Honor of Kings)
• July 31-Aug. 4 (Apex Legends)
• July 31-Aug. 4 (Rainbow Six Siege)
• Aug. 8-11 (Fortnite)
• Aug. 8-11 (Street Fighter 6)
• Aug. 8-11 (Teamfight Tactics)
• Aug. 14-18 (Starcraft II)
• Aug. 15-18 (Call of Duty: Modern Warfare III)
• Aug. 15-18 (EA Sports FC 24)
• Aug. 21-25 (PUBG: Battlegrounds)
• Aug. 22-25 (Rennsport)
• Aug. 22-25 (Rocket League)
• Aug. 22-25 (Tekken 8)