Watch Halo 5 World Championship Here All Weekend Long

The 2016 Halo World Championship final stages have begun.

A total of 16 teams from across the world are competing for a share of the $2.5 million prize pool, which was partially funded through Halo 5: Guardians Req pack sales. The winning side gets $1 million, which Microsoft says is the "biggest individual prize in console eSports history." All of the matches will be streamed live on Twitch and you can see the competition through the embed below.

Early rounds are happening now, while the finals are scheduled to begin at 4 PM PST on March 20. The tournament itself is taking place in Hollywood, California.

In terms of format, the 16 teams have been divided into four groups of four teams each. All teams will play eachother and the top two teams from each group will advance to a bracket stage. This will be a single-elimination, best-of-seven series, with the winning team taking home $1 million.

In addition to the competition, Microsoft will broadcast the first footage of Halo 5's upcoming Warzone Firefight mode sometime during the finals broadcast on Sunday. We will have this footage up as soon as it's available.

Head to the Xbox Wire to find more details about the Halo World Championship, including a list of participating teams and a complete competition schedule.

To celebrate the competition, Microsoft is offering Halo 5: Guardians for $30 through Sunday. Additionally, a new Spartan's Armory Req pack, which comes with 14 new weapons skins (including some that were previously only available to developers) will be up for sale through the weekend.