You must have reached Platinum Rank or above in Arenas Ranked during the current or previous Ranked season to participate in this event. Each match will feature a maximum of 8 players, with up to 7 reboots allowed per player (8 lives total). This event will consist of one session lasting approximately 2 hours, during which players may compete in a maximum of 12 matches. Top players will be awarded cash prizes. Good luck and have fun!
Source: official Epic Games leaderboard (via api-fortnite.com), refreshed every minute while the session is live.
