Team GB missed out on a bronze medal as they were beaten 33-10 by Canada in the rugby sevens.
A day after losing 22-0 to Britain in the pool stage, the third seeds ran riot in the first half with tries from Karen Paquin, Ghislaine Landry, Bianca Farella and Kelly Russell.
Danielle Waterman replied for Britain and speedster Jasmine Joyce cut the deficit further in the second half but they were unable to cope with Canada's physicality and Landry ran in her second try to seal the victory.
After missing out on an Olympic medal to finish fourth, GB's captain Emily Scarratt admitted the side had not performed well enough on the day.
"We came into this tournament wanting to win a medal and unfortunately we have come up a little bit short," she told BBC Radio 5 live. "The girls gave it everything but sometimes it is just not enough and it wasn't tonight.
"They were the better side in that game. They executed better than we do and that is why they will have the medal around their necks.
Despite the success Britain had in their group games, scoring 110 points, GB never recovered from their 25-7 semi-final defeat against New Zealand.
Scarratt admits Canada, who had lost to Britain 22-0 in pool game on Sunday, took full advantage.
"Sevens is a brutal game," the captain added. "You have to perform for 20 minutes and you can win it or lose it in a couple of minutes.
"Canada kept the ball well and recycled it superbly and that is why they got the win."
However, Scarratt is hopeful the exposure of sevens rugby on the biggest sporting stage will have an impact in Great Britain.
"To give rugby, especially women's rugby this exposure is awesome," Scarratt said.
"If we've inspired one or two girls back home to play rugby then we have done our job. Hopefully they can be playing in eight or 12 years' time and bring home the gold."
Australia defeated New Zealand 24-17 to win the first gold medal in Olympic women's rugby. The men's tournament begins at the Deodoro Stadium on Tuesday with Australia facing France and GB's men starting their bid for a medal against Kenya an hour later.