The seven nations who have already punched their ticket found out their fate and will soon be joined by the five more teams, who will stamp their pass to Brazil at the 2016 FIBA Women's Olympic Qualifying Tournament (WOQT) in France from 13-19 June.
While three spots are yet to be filled and reserved for a trio of sides progressing from the action in Nantes, Australia will be the Group A favourites of many at this early stage.
Even if the Opals are sweating on the fitness and participation of the legendary Lauren Jackson, head coach Brendan Joyce will have a stunning array of world class talent to call upon as they bid to reach the Olympic Final for the fourth time in five editions.
The priceless know how of veterans Penny Taylor and Erin Phillips will be vital in the backcourt and on the wings and with Elizabeth Cambage and Marianna Tolo possibly spearheading their challenge under the hoop, they look a fearsome proposition for their Group A rivals.
Brazil will need to rely heavily on their own experienced star in Erika Souza, who was joint top scorer at the London 2012 Olympics when Brazil pushed Australia hard before eventually coming up short 67-61.
She has been brought back into the fold by head coach Antonio Carlos Barbosa as the host nation looks to make a splash on home soil. Meanwhile with Iziane Castro Marques also in contention, it looks like Brazil are going back to the future.
Japan retake to the floor at the Olympics for the first time since 2004 in Athens and the excitement surrounding their return is likely to reach fever-pitch as they look to build on the glory of successive FIBA Asia Women's Championship titles (2013 and 2015).
With a stellar talented quintet led by WNBA star Ramu Tokashiki who was MVP once again as Japan defended their continental title, they will be hopeful of making an impact.
The leadership from point guard of the irrepressible Asami Yoshida will be critical, as will the production of Yuka Mamiya and Maki Takada in the paint and the scoring punch of shooting guard Sanae Motokawa, who averaged a team-best 13.3 points in Wuhan, China last September.
Interestingly, Japan played both Australia and Brazil during the first phase on their last Olympic visit 12 years ago too, and will be determined to erase the longstanding memory of a particularly sore 128-62 defeat to the latter.
It's all about the USA in Group B as the reigning Olympic and World champions stride towards a potential mind-blowing sixth straight title and their eighth in total.
Head coach Geno Auriemma has insisted he is considering a wide group of players and he has a mind-blowing talent pool to choose from. There will inevitably be some certainties, with most people anticipating a possible swansong for the likes of Diana Taurasi and Sue Bird.
At the opposite end of the spectrum, there could be a long-awaited major tournament debut for 2015 WNBA MVP, Elena Delle Donne and with Maya Moore an arguably unrivalled offensive colossus on the win and Brittney Griner likely to clean up on the glass, the USA will inevitably set the standard once again.
They can look forward to a match-up against neighbouring Canada who could lay claim to being the most improved nation in the women's game of late after winning the 2015 FIBA Americas Women's Championship hot on the heels of their Pan-American Games success.
With the brilliant talent of young Kia Nurse to call upon, anything is possible and the UConn guard will of course also get to go up against her College coach in Auriemma.
Having gloriously landed a first-ever EuroBasket Women title, Serbia won't be too disappointed to have to face the USA as they make their Olympic debut. Indeed head coach Marina Maljkovic and several players have all previously stated how much of a dream it would be and how such a fixture would capture the imagination of the nation.
Their upward curve will rely on last year's MVP in Budapest, Ana Dabovic, finding the same kind of 'X-factor' scoring touch, while Sonja Petrovic will be one player that fans from around the world will be excited to watch on the biggest stage of all.
Serbia against Canada looks to be a really fascinating and unpredictable contest and one which many will neutrals will be eagerly circling the diary. While Serbia might also be anticipating facing France in a repeat of the 2015 EuroBasket Women Final if Les Bleues progress from the WOQT as expected.
Both of those teams will be out to avoid any slip-ups against Group B underdogs Senegal, who proudly fly the flag for Africa and end a 16-year hiatus from the Olympics.
With the re-appointment of play-caller Moustapha Gaye, there is real stability and continuation, a theme enforced further by the decision of a number of players - including Fatou Dieng and Mame Diodio Diouf returning home to play for local clubs.
Senegal will also be looking to ensure they are competitive and get an elusive maiden victory after going 0-6 in their previous appearance at the Sydney 2000 Olympics, with AfroBasket Women 2015 MVP Aya Traore perhaps the most important piece of solving that particular puzzle - along with Mame Marie Sy, who has worked with Serbia's Maljkovic in France.