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Dates, details released for $100,000 3-on-3 tournament

North Carolina v Duke

DURHAM, NC - FEBRUARY 09: Joel Berry II #2 of the North Carolina Tar Heels and Grayson Allen #3 of the Duke Blue Devils battle for a loose ball during their game at Cameron Indoor Stadium on February 9, 2017 in Durham, North Carolina. (Photo by Streeter Lecka/Getty Images)

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Details of the $100,000 3-on-3 tournament that will be taking place at the Final Four were announced on Monday morning.

The tournament -- which has been branded the 3X3U National Championship -- will be played from Friday, March 30th, through Sunday, April 1st.

The way it works is this: There will be 32 four-man teams competing in the event. Each one of those teams will be made up of players from the same conference, seniors that have completed all of their eligibility. (Full disclosure: I am on the Selection Committee for these teams.)

Those 32 teams will be broken up into eight pools of four teams, and those four teams will then play three pool play games on Friday night and Saturday afternoon. The winners will advance to play in an eight-team tournament that will take place on Sunday, with the finals being a best-of-three series.

Every win will earn that team $1,000, or $250 per team member, until the finals, where the champ will take home a cool $50,000 to split between the four of them.

All of the games will be broadcast live on twitter until the championship series, which will be live on ESPN2.

The rosters will officially be revealed during the four days before the start of the tournament and can only consist of players from teams that did not reach the Final Four. A second watch-list will be released in February.