Organisers intend for 192 men’s players to be picked via auction to represent eight franchises of 24 players, coached by established names including England boss Eddie Jones.
World 12s Limited says the competition will take place over three weekends in a round-robin format before knockouts.
“World 12s is a natural evolution for rugby union,” said the organisation’s chairman, Ian Ritchie.
“We feel that this is a game for our changing, fast-paced world that can excite a global fanbase in the way that we have seen with the IPL [Indian Premier League] or most recently The Hundred in cricket.”
12 players in a team – six forwards and six backs,