Storybook Brawl Cancels World Championship Following Crypto Parent Company Filing Bankruptcy
The move impacts more than 130 companies, obviously not all gaming related.
When you’re a smaller company, having a parent company can be a pretty good thing in that you have the structural and financial support that you otherwise would not have. But, when your parent company falls on hard times, the results can be pretty disastrous. Such may be the case for Storybook Brawl – the digital CCG.
Storybook Brawl’s parent company is FTX, a cryptocurrency exchange owned by Sam Bankman-Fried. Today, news broke that FTX is filing for chapter 11 bankruptcy. Apparently, the company is in debt to over 100,000 creditors and their liabilities and assets are both somewhere in the range of $10 billion to $50 billion, which would seem to mean they just have no money. As part of this filing, the company is also making changes. One of these is that the Bankman-Fried is stepping down as CEO.
With all of this going on, and things a bit up in the air for now, Storybook Brawl has decided to put some things on hold. Among those things is the World Championship in The Bahamas. According to an announcement on the game’s Twitter account, they’re uncertain of the future of both Organized Play and the World Championship, so they’re canceling the one set to take place in The Bahamas.
Given the circumstances, we are saddened to announce that we are canceling the World Championship in The Bahamas.
We are unsure about the future of Organized Play and the World Championship and will provide clarity when we know more.
-The SBB Team
— Storybook Brawl (@StorybookBrawl) November 11, 2022
It’s a sad turn of events for the game and fans, but perhaps things will still work out for them in the end.
About the Author
QuintLyn is a long-time lover of all things video game related will happily talk about them to anyone that will listen. She began writing about games for various hobby sites a little over ten years ago and has taken on various roles in the games community.
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