Photo/IllutrationAn eSports event using the game “Street Fighter” (Provided by Capcom Co.)

When teams from around the world converge on Tokyo next summer, they’ll be competing for cash prizes instead of gold medals, a testament to the growing popularity of eSports.

Major chipmaker Intel Corp. has announced that it will hold the Intel World Open in Tokyo on July 22-24 on the eve of the Tokyo Olympics.

Participants will be competing in Osaka-based Capcom Co.’s fight game “Street Fighter V” and U.S.-based Psyonix Inc.’s sports action game “Rocket League.”

The total amount in the prize fund is $500,000 (54 million yen), with $250,000 in the pot for "Street Fighter V" and also for "Rocket League."

Intel has been making a major effort to popularize eSports, including holding a similar competition ahead of the Pyeongchang Winter Olympics in 2018.

At the 2018 Asian Games, eSports was featured as a demonstration sport.

Mark Chang, head of gaming marketing department of Intel, said that eSports is a showcase where the gaming industry can demonstrate its ability and technique.

The online preliminary round for “Rocket League” will be held from the beginning of next year. The local preliminary round for “Street Fighter V” will be held around the world from March.

The final qualifying rounds for both games will be held in Poland in June. The upper-ranked teams will compete against each other in Tokyo.