"Squid Game" reality series is coming to Netflix – and it's offering a $4.56 million cash prize

Netflix announced on Tuesday it is launching a reality competition series based on the hit show, "Squid Game." The streaming service is offering a $4.56 million as the reward, which it says is the "largest cast and lump sum cash prize in reality TV history." 

In a news release, Netflix said 456 players will enter "Squid Game: The Challenge," and compete in a series of games inspired by the show, with "surprising new additions." And unlike the original Netflix show where contestants are eliminated through death, the company said the "worst fate is going home empty-handed" in this game. 

"Squid Game" centers around contestants with dire financial struggles hoping to win billions of dollars competing against each other in typical South Korean children's games. It became an international sensation, and it holds the record as Netflix's most popular series of all-time, according to the company. The show had over 1.65 billion viewing hours in the first 28 days after it premiered in September. The show was renewed for a second season on Sunday.