Guild Esports PLC (LSE:GILD, OTCQB:GULDF), the gaming-focused media company, confirmed it has entered the ESL R1 championship, the driving simulator tournament.
Teams can win a prize pool of US$400,000, while the top-ranking drivers take home a share of US$100,000.
Led by event organiser ESL and played on the upcoming ultra-realistic sim racing game Rennsport, the event will take place at this year’s Esports World Cup in August.
In the championship, competitors will need to compete in multiple rounds of one-shot qualifying and short-format races, accumulating points for themselves and their teams in each contest.
Should a Guild Esports player be successful, they will go through to a final in which qualifying drivers will compete in a one-off race to decide the overall winner.
Jasmine Skee, chief executive at Guild Esports, said: "We are thrilled to announce Guild Esports' entry into the ESL R1, a pioneering sim racing championship.
“This will provide a new level of entertainment to Guild's sim racing fans. We look forward to signing a talented roster soon and are excited about the prospects this new championship offers, both in terms of competition and potential for growth."