Streaming platform Play2Live has announced that it will host a CS:GO tournament in Belarus with $100,000 at stake.

Held at the Falcon Club in Minsk on February 24-25, the Play2live Cryptomasters will see eight teams - seven invited and one qualified - face off for the first prize of $50,000.

The most intriguing aspect of the tournament is that the prizes will not be paid in cash but through Play2Live's own cryptocurrency, called Level Up Coin (LUC), which can be used to place bets on the livestreaming platform or to be converted to fiat currencies or a variety of other cryptocurrencies.

AGO invited to attend esport event with crypto prize

BIG, Space Soldiers and GODSENT are among the teams confirmed for the tournament, which will use a single-elimination, best-of-three format.

"We are even excited to host the world’s first ever esport tournament with crypto prize: an event that will become a milestone in further integration of the blockchain technology into gaming industry.," Play2Live CEO and Founder said in a press release.

Registration for the Play2Live Cryptomasters qualifier, which will run on February 10-11, can be done here. The winner of this single-elimination tournament, featuring best-of-three matches from the quarter-finals onwards, will secure paid travel and accommodation for the event.

The team list for the event, which will be streamed live on p2l.tv, currently looks as follows:

The $100,000 prize pool will be distributed as follows: