The Ice Hockey World Championships are an annual men's ice hockey tournament organized by the International Ice Hockey Federation. First officially held at the 1920 Summer Olympics, it is the sport's highest profile annual international tournament. The IIHF was created in 1908 while the European Championships, the precursor to the World Championships, were first held in 1910. The tournament held at the 1920 Summer Olympics is recognized as the first Ice Hockey World Championship. Between 1920 and 1968, the Olympic hockey tournament was also considered the World Championship for that year. The first World Championship that was held as an individual event was in 1930 in which twelve nations participated. In 1931, ten teams played a series of round-robin format qualifying rounds to determine which nations participated in the medal round. Medals were awarded based on the final standings of the teams in the medal round. This basic format would be used until 1992. In 1951, thirteen nations took part and were split into two groups. The top seven teams played for the World Championship. The other six played for ranking purposes.