Relevance of your GPA

I am a second year BBA student at a target uni. I did NOT do very well first year like I think i ended at approximately 3.0GPA. I have decent extracurriculars following from highschool. I have some math competitions, top 10 chess championship placements twice in a row and I have some really good stock pitch comp placements and business competition placements. I was thinking to do a masters degree but I found out that they reallyyy pay attention to your bachelors degree as it gets above middle market, even if you have a 4.0 I heard they would be much more reluctant if they see you had like 3.3 for bachelors or something. I am worried my year 1 grade could mess up my chances. To be fair I am assuming it already messed up my chances of getting a decent internship as a third semester student.