Digital product developer RageBite has announced that it has sunset its esports tournament platform Playbase.GG.
As a result, the SaaS platform will cease hosting online tournaments in League of Legends and VALORANT.
According to a statement on the defunct Playbase.GG website, RageBite noted that the “rapidly changing landscape” of the esports industry has bought about “unforeseen challenges that make continuing unsustainable.”
Launched in 2021, the company created a Software as a Service (SaaS) platform that aimed to eliminate the presence of fake accounts and unpaid prize pools, both of which impact online esports tournaments across a range of titles.
Playbase.GG partnered with Swiss blockchain company Concordium in 2022 to build the platform using its blockchain. RageBite’s CEO said in a LinkedIn post that the Concordium partnership “utilised blockchain to remove shady moves such as undelivered prize pools, malicious match results, and fake accounts.”
However, the CEO claimed there were challenges around overcoming negative stereotypes surrounding blockchain in the gaming community.
RageBite is no stranger to the esports industry. The company has collaborated with the likes of peripherals manufacturer Logitech and esports event company Ultimate Gaming Championship (UGC).
Boris Batocanin, Co-founder and CEO of RageBite, commented on the closure in a LinkedIn post: “After years of hard work and attempts to operate under various circumstances, we have decided to sunset Playbase.GG.
“I am truly grateful for every moment. It was an incredible experience unmatched by anything else. Unfortunately, a lack of business strategy and market research forced us to change direction. However, it was challenging to change the stereotype surrounding blockchain in gaming.”
The Web3 and blockchain industries continue to collaborate with various stakeholders in esports to create new platforms and opportunities for fans to obtain digital collectibles. In April, Asian organisation TALON Esports joined forces with Web3 competitive ecosystem Planet Mojo. In November 2023, North American organisation Team Liquid partnered with Illuvium for the launch of the auto battler game Illuvium: Arena.
