The Nobel Prize was established in 1895 in accordance with Alfred Nobel’s will and is awarded for outstanding contributions for humanity in chemistry, literature, peace, physics, and physiology or medicine. The Nobel Prize is internationally regarded as the most prestigious award in each of these fields. Every laureate receives a gold medal, a diploma, and a hefty sum of money. As of 2020, each prize is worth about USD 900,000. 

The annual Nobel Prize Award Ceremony is an important international event which takes place in Stockholm on the 10th of December, the anniversary of Alfred Nobel’s death. The only exception is the Peace Prize which is awarded in Oslo, Norway. The ceremony takes place here, at the Stockholm Concert Hall (Konserthuset). It is followed by the Nobel Banquet at a different location - the Stockholm City Hall (https://reveal.world/story/1337)

Photo: Konserthuset.se

Read more: https://www.nobelprize.org/ceremonies/the-nobel-prize-award-ceremonies-and-banquets/