https://www.youtube.com/watch?v=lrroo8ca4ty
This year's tournament is divided into 2 stages of the group stage and knockout. In the group stage, there were 8 teams participating and competing in the formula of the winning branch – branch losing. Meanwhile, Riot Games has classified the seeds and has 4 teams directly in the live qualifying round including The Guard (North American Championship), G2 Esports (Runner -up Emea), Paper Rex (APAC champion) and 1 team in Brazil or Latin America.
The G2 Esports is classified as a special case. Because Funplus Phoenix (EMEA championship) cannot attend because of the unstable political situation, G2 Esports was identified as the No. 1 seed of Emea and Team Liquid chosen to replace Funplus Phoenix. Meanwhile, the 4th seed will be Loud.

Closing the group stage, 4 teams with the best results will enter the live qualifying round to compete with 4 seed teams in the formula of branches – branches losing. All matches of Masters 1 Reykjavik are BO3 (except for the final of the losing branch and the final of the Bo5). Each team participating in the tournament will have at least 125 accumulated points. Meanwhile, the championship team received 750 points, the runner -up team received 500 points. The 3rd and 4th teams received 400 and 300 points respectively.
This is the second time Valorant's Masters tournament was held in Reykjavik, Iceland. Previously, Sentinels was the team winning the championship after the 3-0 victory over Fnatic in the final. The Masters 3 Berlin championship, Gambit Esports, did not participate in this year's tournament when he was soon eliminated from the play-off of the EMEA area.