The NFT Project CEO Quits as Frank DeGods, the founder and CEO of the iconic DeGods and y00ts NFT collections, announced his resignation on May 12, 2025, after over three years of leadership. This move marks a significant shift for the projects, with Frank passing the reins to a new team to steer their future. This article delves into the reasons behind his departure, the legacy of DeGods and y00ts, and the challenges and opportunities ahead for these NFT ventures.
A Pivotal Leadership Transition
The NFT Project CEO Quits when Rohun Vora, widely known as Frank DeGods, stepped down as CEO of DeGods and y00ts. In a heartfelt post on X, Frank shared, “Today is my last day as CEO of DeGods. My chapter is closing, but the story continues with @0x_chill and @pastagotsauce leading the way.” He expressed pride in his three-year journey, during which he worked tirelessly to elevate DeGods and y00ts into prominent names in the NFT space. Frank’s leadership saw the projects navigate multiple blockchains, including Solana, Ethereum, Polygon, and Bitcoin, showcasing their adaptability and ambition.
Frank handed over control to @pastagotsauce and co-founder @0x_chill, expressing confidence in their ability to drive the projects forward. He acknowledged the controversies tied to his persona, noting that the focus on “Frank DeGods” may have hindered collective progress. Addressing rumors, he clarified, “I’m not on the run, and there are no investigations. I’ve never done anything illegal.” His candid remarks reflect the intense scrutiny he faced, which he believes fueled engagement but sometimes overshadowed the projects’ achievements.
The Legacy of DeGods and y00ts
Launched in 2021, DeGods became a trailblazer with its 10,000-piece NFT collection, introducing a 33.3% tax on trades below the floor price to deter quick sales and stabilize value. This controversial mechanism aimed to protect long-term holders but sparked debates. DeGods also pioneered Bitcoin inscriptions, embedding NFTs on the Bitcoin blockchain, a bold move that highlighted its multi-chain vision. The project, developed by Dust Labs, raised $7 million in a seed round with investors like Jump Capital and Solana Ventures, cementing its blue-chip status.
y00ts, launched in 2022, followed as a 15,000-piece collection, achieving rapid success with $6.1 million in sales within 24 hours. Both projects migrated across blockchains—DeGods to Ethereum and y00ts to Polygon in 2023, then back to Solana in 2024—reflecting strategic pivots amid market shifts like the FTX collapse. In September 2024, DeGods and y00ts consolidated their ecosystems into a single DEGOD token, launched in February 2025. However, the token’s price has since plummeted over 50%, trading at $0.001146 as of May 13, 2025, per CoinGecko data.
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Controversies and Criticisms
Frank’s tenure was not without challenges. In early 2025, he faced allegations of ties to the “LA Vape Cabal,” a group accused of manipulating memecoin markets. His wallet reportedly earned $4.4 million in profits before being deleted, prompting insider trading accusations. Frank admitted to having prior knowledge but denied wrongdoing. He also drew criticism for soliciting 176 BTC for a Bitcoin DeGods project without a clear roadmap, raising concerns about transparency. His public critiques of the Solana NFT community further fueled backlash, straining relations with some stakeholders.
Despite these controversies, Frank’s contributions were significant. Community members on X praised his role in building networks and opportunities, with some arguing he faced undue scrutiny for decisions made under pressure. The DEGOD token launch, while risky, aimed to unify a fragmented ecosystem, though its poor performance has dampened sentiment.
Market Performance and Future Outlook
As of May 13, 2025, DeGods’ market cap stands at approximately 2,069 ETH, with a floor price of 0.53 ETH. In contrast, y00ts boasts a robust $64.6 million market cap, with a floor price of $5,220 per NFT, per CoinGecko. These figures reflect the projects’ resilience despite market volatility and the DEGOD token’s struggles. The return to Solana in 2024 saw both collections rank among the top three in daily trading volume, signaling strong community support.
The leadership transition offers a chance to redefine the projects’ direction. The new team, led by @0x_chill and @pastagotsauce, inherits a complex legacy but also a vibrant community. Innovations like the y00ts Store, allowing trait customization, and past integrations with marketplaces like Blur and Magic Eden position the projects for growth. However, addressing the DEGOD token’s decline and rebuilding trust will be critical.
Implications for the NFT Space
Price fluctuations of the y00ts and DeGods collections over the past 30 days. Source: CoinGecko.
The NFT Project CEO Quits underscores the challenges of leading high-profile NFT ventures in a volatile market. Frank’s departure highlights the intense pressure on founders to balance innovation, community expectations, and financial performance. His pivot to the DEGOD token, though ambitious, reflects the broader NFT market’s struggle to adapt amid a 2023–2024 downturn. The new leadership must navigate these dynamics while leveraging the projects’ multi-chain experience and strong brand equity.
Conclusion
The NFT Project CEO Quits as Frank DeGods steps down, marking the end of a transformative era for DeGods and y00ts. His three-year tenure brought innovation, controversy, and growth, shaping the NFT landscape. With a market cap of $64.6 million for y00ts and a bold multi-chain legacy, the projects are poised for a new chapter under @0x_chill and @pastagotsauce. The NFT Project CEO Quits signals a fresh start, with the community watching closely to see how the new team builds on Frank’s foundation.