Less than 24 hours after Rohun Vora – better known as Frank DeGods, announced his resignation as CEO of DeLabs, the company behind the high-profile NFT projects DeGods and y00ts, the NFT market witnessed a sharp and unexpected price surge.

Both collections, DeGods and y00ts, saw increases in trading volume and floor prices across Ethereum and Solana. This wasn’t just a simple price rebound, but rather a vivid sign that sometimes communities respond more positively when an outsized personal influence steps away from a project.

A Surprise Move, but Not a Shock

Frank DeGods, whose real name is Rohun Vora, is the founder of DeGods – a collection of 10,000 NFTs originally launched on Solana that made waves thanks to its distinctive art style and a staking mechanism powered by the DUST token.

Its “brother” project, y00ts, consisting of 15,000 NFTs, was later introduced to expand the ecosystem, offering more interactive features like NFT customization and community group creation. Both were once considered flagship collections during Solana’s NFT boom.

In a video published on May 12, Frank announced his decision to step down from leadership after more than three years at DeLabs. He stated that the move was intended to allow the project to grow independently, without being overly tied to his persona. “I don’t want DeGods to be a startup that revolves around me,” Frank said. “I want it to grow into its own world.”

The announcement sparked mixed reactions. Some supporters praised the decision as a mature and necessary step toward a new chapter for DeLabs. Others, however, questioned the timing and true motivation behind it, particularly given that Frank had recently come under fire for memecoin trades made through a publicly known wallet, raising concerns about insider activity.

Frank Wallet

A post on X in February 2025 even speculated about a potential SEC investigation. Frank denied these claims and publicly shared his wallet address to demonstrate transparency.

He reiterated that he is not under investigation and has not committed any illegal activity. Nonetheless, he announced he would stop using the public wallet to avoid further reputational risk to the project.

Learn more: How to Mint an NFT: A Beginner’s Guide

Could DeGods Become the Next Pudgy Penguins After Frank Steps Down as CEO?

What surprised the NFT community wasn’t Frank’s resignation itself, but the market’s immediate response. According to data from OpenSea, Blur, and CryptoSlam, DeGods’ floor price surged nearly 40% within a single day, while y00ts on Solana also jumped over 25%. CryptoSlam further reported that DeGods’ sales volume spiked by almost 101% following Frank’s announcement.

Source: MagicEden

It is rare to see an NFT project experience such a rally immediately after the founder steps down. Many observers quickly drew parallels with Pudgy Penguins in 2022, when internal controversies led to the original team’s removal and opened the door for a remarkable revival under new leadership from Luca Netz.

Much like the Pudgy case, Frank’s departure appears to have “liberated” the community from personal entanglements, opening the door to a future with less drama and more creativity. On X, the phrase “Pudgy Moment” quickly began trending, accompanied by a wave of tweets applauding Frank’s decision to “free” DeGods.

More than just optimism for a brighter future, the market seems reassured by the two figures stepping in to lead the project: @0x_chill and @pastagotsauce. While neither has publicly revealed their real identity, both have long contributed to DeLabs and played key roles in building previous NFT initiatives.

Source: X

Shortly after Frank released his resignation video, the official DeGods account announced a new chapter titled “DeGods Book One,” aiming to recap the project’s first three years and outline a new direction forward. It’s a positive signal that the transition isn’t just about continuity, but about a clear, deliberate evolution.

Founder Departures: A Double-Edged Sword in NFT

Investors typically view a founder stepping down as a sign of instability. But in the world of NFTs, where personal branding and drama often overshadow product substance – their departure can sometimes be a welcomed development.

Frank is far from the first case. Beyond Pudgy Penguins, collections like mfers (following Sartoshi’s “social media suicide”) and Moonbirds (after Kevin Rose scaled back his involvement) also saw mixed reactions from their communities. But the common thread is this: if the successor team is capable and transparent, the market is often willing to offer a second chance.

While the initial market response has been undeniably positive, a deeper question remains: Is this DeGods’ true “Pudgy Moment” – a transformative rebirth or merely a short-term emotional spike from the community?

Pudgy Penguins’ resurgence under Luca Netz was not just a change in leadership – it was a complete strategic overhaul. Netz repositioned the brand with physical toys, IP licensing, and a long-term vision that reached far beyond the NFT echo chamber.

Pudgy IP – Source: OverpassIP

In contrast, DeGods has yet to unveil a clear post-Frank strategy beyond the announcement of “Book One.” While there is cautious optimism surrounding @0x_chill and @pastagotsauce, the lack of transparency about their leadership plans, roadmap, or product direction still leaves many investors on the sidelines.

If “DeGods Book One” serves only as a retrospective without delivering concrete innovation or renewed vision, the recent price surge may be no more than a “buy the rumor” rally – one that risks fading quickly once initial hype dissipates.

If the new team proves capable, like Pudgy did, DeGods could stage a real comeback. In that case, the “Pudgy Moment” would no longer be a metaphor. It would be the start of something enduring.

Read more: Trading with Free Crypto Signals in Evening Trader Channel

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