Personally I like how the format is.
This might not be a most original or even well thought out idea but hey it's worth a go. What I was thinking is maybe do something like a dragonball z martial arts tournament and umm well have qualifying matches in an arena so that winners of spars move on to the main event or something. Hmmm a warp can be set up for people to enter and if there's a limit on how many can enter, well we could come up with a limit to how many players can enter or a time limit for the warp to be open.
I'm sure there are others with better ideas