Lower than 24 hours after Rohun Vora – higher generally known as Frank DeGods, introduced his resignation as CEO of DeLabs, the corporate behind the high-profile NFT tasks DeGods and y00ts, the NFT market witnessed a pointy and sudden price surge.
Each collections, DeGods and y00ts, noticed will increase in buying and selling quantity and flooring costs throughout Ethereum and Solana. This wasn’t only a easy price rebound, however moderately a vivid signal that typically communities reply extra positively when an outsized private affect steps away from a undertaking.
A Shock Transfer, however Not a Shock
Frank DeGods, whose actual identify is Rohun Vora, is the founding father of DeGods – a group of 10,000 NFTs initially launched on Solana that made waves due to its distinctive artwork fashion and a staking mechanism powered by the DUST token.
Its “brother” undertaking, y00ts, consisting of 15,000 NFTs, was later launched to broaden the ecosystem, providing extra interactive options like NFT customization and group group creation. Each had been as soon as thought of flagship collections throughout Solana’s NFT growth.
In a video printed on Might 12, Frank introduced his resolution to step down from management after greater than three years at DeLabs. He acknowledged that the transfer was supposed to permit the undertaking to develop independently, with out being overly tied to his persona. “I don’t want DeGods to be a startup that revolves around me,” Frank mentioned. “I want it to grow into its own world.”
The announcement sparked blended reactions. Some supporters praised the choice as a mature and obligatory step towards a brand new chapter for DeLabs. Others, nevertheless, questioned the timing and true motivation behind it, significantly provided that Frank had not too long ago come underneath hearth for memecoin trades made via a publicly recognized pockets, elevating issues about insider exercise.
Frank Pockets
A submit on X in February 2025 even speculated a few potential SEC investigation. Frank denied these claims and publicly shared his pockets tackle to exhibit transparency.
He reiterated that he’s not underneath investigation and has not dedicated any criminal activity. Nonetheless, he introduced he would cease utilizing the general public pockets to keep away from additional reputational danger to the undertaking.
Study extra: How you can Mint an NFT: A Newbie’s Information
May DeGods Turn into the Subsequent Pudgy Penguins After Frank Steps Down as CEO?
What stunned the NFT group wasn’t Frank’s resignation itself, however the market’s fast response. In line with information from OpenSea, Blur, and CryptoSlam, DeGods’ flooring price surged practically 40% inside a single day, whereas y00ts on Solana additionally jumped over 25%. CryptoSlam additional reported that DeGods’ gross sales quantity spiked by virtually 101% following Frank’s announcement.
Supply: MagicEden
It’s uncommon to see an NFT undertaking expertise such a rally instantly after the founder steps down. Many observers shortly drew parallels with Pudgy Penguins in 2022, when inside controversies led to the unique group’s elimination and opened the door for a exceptional revival underneath new management from Luca Netz.
Very like the Pudgy case, Frank’s departure seems to have “liberated” the group from private entanglements, opening the door to a future with much less drama and extra creativity. On X, the phrase “Pudgy Moment” shortly started trending, accompanied by a wave of tweets applauding Frank’s resolution to “free” DeGods.
Extra than simply optimism for a brighter future, the market appears reassured by the 2 figures stepping in to guide the undertaking: @0x_chill and @pastagotsauce. Whereas neither has publicly revealed their actual id, each have lengthy contributed to DeLabs and performed key roles in constructing earlier NFT initiatives.
Supply: X
Shortly after Frank launched his resignation video, the official DeGods account introduced a brand new chapter titled “DeGods Book One,” aiming to recap the undertaking’s first three years and description a brand new route ahead. It’s a constructive sign that the transition isn’t nearly continuity, however a few clear, deliberate evolution.
Founder Departures: A Double-Edged Sword in NFT
Buyers sometimes view a founder stepping down as an indication of instability. However on this planet of NFTs, the place private branding and drama typically overshadow product substance – their departure can typically be a welcomed growth.
Frank is much from the primary case. Past Pudgy Penguins, collections like mfers (following Sartoshi’s “social media suicide”) and Moonbirds (after Kevin Rose scaled again his involvement) additionally noticed blended reactions from their communities. However the widespread thread is that this: if the successor group is succesful and clear, the market is usually prepared to supply a second probability.
Whereas the preliminary market response has been undeniably constructive, a deeper query stays: Is that this DeGods’ true “Pudgy Moment” – a transformative rebirth or merely a short-term emotional spike from the group?
Pudgy Penguins’ resurgence underneath Luca Netz was not only a change in management – it was a whole strategic overhaul. Netz repositioned the model with bodily toys, IP licensing, and a long-term imaginative and prescient that reached far past the NFT echo chamber.
Pudgy IP – Supply: OverpassIP
In distinction, DeGods has but to unveil a transparent post-Frank technique past the announcement of “Book One.” Whereas there’s cautious optimism surrounding @0x_chill and @pastagotsauce, the shortage of transparency about their management plans, roadmap, or product route nonetheless leaves many traders on the sidelines.
If “DeGods Book One” serves solely as a retrospective with out delivering concrete innovation or renewed imaginative and prescient, the current price surge could also be not more than a “buy the rumor” rally – one which dangers fading shortly as soon as preliminary hype dissipates.
If the brand new group proves succesful, like Pudgy did, DeGods might stage an actual comeback. In that case, the “Pudgy Moment” would now not be a metaphor. It will be the beginning of one thing enduring.
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