The Future of 1v1Me: Focused on Staking

The initial idea for 1v1Me started during the COVID-19 lockdown when real sports were shut down. Our friends were playing video games against each other for money — using spreadsheets and Venmo to keep track of who won and who lost. We thought, “Why not make an app to simplify this process?”

At the time, similar companies existed, but none felt truly “great.” They often felt untrustworthy, were hard to use on mobile, and their customer support left much to be desired. So, we decided to build an app that was stupid easy to use, consistent, trustworthy, and offered world-class support.

Launching the First MVP

A few months later, we launched our MVP: an app allowing players to compete head-to-head for money in top games, a concept known as “wagering.” This initial version of 1v1Me quickly grew to thousands of users and facilitated millions of dollars in payouts.

Revolutionizing with Staking

Three years later, we introduced a major evolution to the platform: staking. This feature allows users to back top players in competitive games and earn payouts if their player wins — without needing to play themselves.

Launching staking was revolutionary for the community. While many platforms offered wagering, no one else enabled staking on competitive esports. The feature quickly became the platform’s focal point, with staking outpacing wagering in both growth and engagement. Long-time wagerers transitioned to full-time stakers, and top gamers eagerly joined our events.

The Core Challenge with Wagering

As staking gained momentum, we realized a critical issue with wagering: only the top few percent of players could consistently win money. Most players, while confident in their skills, would try wagering, lose, and not return.

Similar to professional sports like the NBA or NFL, there will always be far more people interested in watching the best compete than those capable of performing at the highest level themselves. Staking taps into this dynamic, allowing more fans to engage with competitive gaming.

Refocusing on Staking

Earlier this year, we announced plans to divide wagering and staking into two apps: 1v1Me for staking and a separate app dedicated to wagering. However, after months of work and internal discussions, we’ve concluded that this approach is no longer feasible.

Due to the economic uncertainty of startups — especially in the esports space — and our limited team size, we’ve decided to focus our resources on our biggest opportunity: staking.

As a result, we will be shutting down wagering, effective November 1, 2024, to fully dedicate ourselves to building staking into a world-class app experience.

A Thank You to Our Wagering Community

Since 2021, we’ve provided a free wagering experience, waiving the per-match fees typically charged by other platforms. We did this because of our deep love for competitive gaming and our commitment to this community.

We want to thank you, our community, for your support, especially those of you who have been with us since the beginning. This decision was not made lightly, and we are incredibly grateful for your trust and loyalty.

If you have any questions, please reach out to us in-app at @1v1me or email support@1v1me.com

Thank you for being part of our journey.

Anthony Geranio
CEO, 1v1Me - www.1v1me.com