Yesterday, the software giant announced at Gamescom conference that later this year it will launch the Microsoft Halo World Championship. It is an e-sports competition in which $1 million will be given as prize money. This is the maximum amount ever paid for a Halo tournament and will be given only to gamers playing Halo 5: Guardians, which will be launched on October 27.

In a video description on YouTube, Microsoft wrote regarding Microsoft Halo World Championship:

“The Halo series has always been synonymous with console eSports and online competition. With Halo 5: Guardians we are fully embracing that legacy with the announcement of the inaugural Microsoft Halo World Championship, which launches later this year, featuring over $1 million dollars in prizing. The Halo World Championship will focus on Halo 5: Guardians’ hypercompetitive Arena multiplayer experience.”

Microsoft’s increased effort on eSports is the proof of the important impact the trend has had on the gaming world. Since many top gamers around the world battle with each other in a wide range of video games, eSports has become a noteworthy industry. There are various popular franchises, including Dota and Halo, which are among the favorites for gamers.

The growth of eSports has now attracted many gamers who want to make a career of playing video games. Professional gamers often make money by winning competitions and they also make money through sponsorships offered by the connected companies.

According to Newzoo, a market research firm, revenue generated from eSports tickets, sponsorships, events and other sources will exceed $250 million globally this year. The market research firm has estimated that there are more than 113 million eSports fans globally who attend events or tune in over the Web to watch professional gamers competing each other.

Rahul Sood, a former executive of Microsoft, who is now chief executive of Unikrn, said:

“The bottom line is all game developers everywhere are looking for ways to turn their games into e-sports titles.”

In addition to announcing Microsoft Halo World Championship the tech giant also announced a Limited Edition Halo 5: Guardians controller, which will be launched on October 20.