Throw more light for the participation, at least a thread where we can see discussions about the event.
Asking the same question as others, what is the buy in and when is the event starting?
The prices looks good even for least winner, it's a fair prize and i suspect the buy in will be huge.
It really looks like an exciting and rewarding poker tournament but the specifics are yet to be revealed. Since the prize money for even the smallest winner is $80 and the total prize pool is large it is likely that the buy in will be somewhere between $10–$50. Hopefully this amount will be fair and accessible.