The 88th Academy Awards is set to premiere on Feb. 28. The Oscars will be hosted by actor and comedian Chris Rock. 

The Oscars is an annual awards ceremony that recognizes achievement in the cinema and film industry.

The Academy was established in May 1927 by Louis B. Mayer, head of the MGM film studio. 

According to History.com, the Academy of Motion Picture Arts and Sciences presented its first awards on May 16, 1929 during the first Oscars ceremony. 

The Academy Awards first started to be known by its nickname “Oscars” in 1939. The most popular story as to why this nickname was chosen, is one of the executive directors commented about how the Academy Awards statue looked like her Uncle Oscar. 

Oscars are awarded in such categories as Best Picture, Best Actor in a Leading Role, Best Actress in a Leading Role and Best Animated Film. 

This year, the nominees for Best Picture are “The Big Short,” “Bridges of Spies”, “Brooklyn,” “Mad Max,” “The Martian,” “The Revenant,” “Room” and “Spotlight.”

The nominees for Best Actor in a Leading Role are Bryan Cranston for his role in “Trumbo,” Leonardo DiCaprio for his role in “The Revenant,” Matt Damon for his role in “The Martian,” Eddie Redmayne for his role in “The Danish Girl” and Michael Fassbender for his role in “Steve Jobs.”

The nominees for Best Actress in a Leading Role are Cate Blanchett for her role in “Carol,” Brie Larson for her role in “Room,” Jennifer Lawrence for her role in “Joy,” Charlotte Rampling for her role in “45 Years” and Saorise Ronan for her role in “Brooklyn.” 

The nominees for Best Animated Film are “Anomalisa,” “Boy and the World,” “Inside Out,” “Shaun the Sheep Movie” and “When Marnie Was There.” 

Awards are also given in such categories as Cinematography, Costume Design, Directing, Production Design, Makeup and Hairstyling, and many more. 

There is a way for viewers at home to become more involved with the Oscars through the Official Oscars Challenge. 

According to the Oscars website, viewers can fill out a ballot to predict the winners of each Oscar category and enter to win prizes. One winner with the most correct answers will win a trip for two to Hollywood, tickets to the Oscars Red Carpet in 2017, and a $1,000 gift card to Kohl’s. The runner up will win a trip for two to Hollywood, two tickets to the red carpet premiere of “Finding Dory,” and a $500 gift card to Kohl’s.  

Many well-known celebrities will be presenting the awards during the ceremony. Some of them are returning to the Oscar stage, and some of them will be presenting for the first time. Some of the veterans include Morgan Freeman and John Legend, while some of the first-timers include “Star Wars: The Force Awakens”director J.J. Abrams, Sacha Baron Cohen and Henry Cavill. 

Dave Grohl, who is most known for being the drummer of Nirvana and founder of the Foo Fighters, will be one of the many musical talents set to perform on Sunday. 

Viewers can watch stars walk the red carpet on abc at 6 p.m. before the Academy Award ceremony at 7:30 p.m.