FIDE confirmed the event will take place from May 5 to 10, with competition held in collaboration with Chess.com.

Russia, United States, Europe, China and India will have teams featuring in the competition, along with a team representing the Rest of the World.

FIDE say the online event will be global and gender-inclusive, with teams required to include at least one female player.

"This is a unique event that will combine competitive chess at the highest level, with a top-notch online spectacle", says Arkady Dvorkovich, FIDE President.

"The reasons why an official tournament like this has to be conducted online are very unfortunate - but we are happy to see that chess is providing solace to millions of people who are under a home lockdown - they can play themselves, and they can also enjoy the thrill of a first-class sporting event.”

The six teams of four players will compete under a rapidplay format, with the event having a prize fund of $180,000 (£146,000/€166,000).

The first stage will be a double round-robin with the six teams, which will take place from May 5 to 9.

The top two teams will play in a Superfinal on May 10 to determine the winner.

FIDE said the event will see players observed by FIDE-affiliated international arbiters via a video conference call to ensure participants do not receive any kind of external help.

The tournament will be broadcast live across FIDE's and Chess.com's channels across Twitch, YouTube, Mixer, Twitter and other international streaming platforms.

Commentary by chess experts will be conducted in multiple languages, including English, Spanish, Russian, Mandarin, French, German, Portuguese, Italian, Turkish and Polish.

China have been awarded the top seeding with Ding Liren, Wang Hao, Wei Yi, Hou Yifan, Yu Yangyi and Ju Wenjun named in the squad, which will be captained by Ye Jiangchuan.

Maxime Vachier-Lagrave, Levon Aronian, Anish Giri, Anna Muzychuk, Jan-Krzysztof Duda and Nana Dzagnidze will represent Europe.

The team will be captained by retired legend Garry Kasparov.

Ian Nepomniachtchi, Vladislav Artemiev, Sergey Karjakin, Aleksandra Goryachkina, Dmitry Andreikin and Olga Girya will represent Russia, while Fabiano Caruana, Hikaru Nakamura, Wesley So, Irina Krush, Leinier Dominguez Perez and Anna Zatonskih led the United States challenge.

Reigning Nations Cup champions India will be advised by Vladimir Kramnik, with their team featuring Viswanathan Anand, Vidit Gujrathi, Pentala Harikrishna, Humpy Koneru, Adhiban Baskaran and Harika Dronavalli.

Teimour Radjabov, Alireza Firouzja, Bassem Amin, Mariya Muzychuk, Jorge Cori and Dinara Saduakassova will compete for the Rest of the World team.

The team will be captained by FIDE President Dvorkovich.