Finn DeGods, a co-founder of DeLabs responsible for the Ethereum NFT profile picture (PFP) collection DeGods, has announced their departure, coinciding with a significant decline in the collection’s floor price and market turbulence caused by notable traders. Finn’s departure was shared on Twitter, stating that it marked a transition to the next chapter, while expressing continued optimism for DeGods and the sister project y00ts. However, Finn clarified that the departure was unrelated to recent challenges faced by DeGods.
The NFT collection’s floor price plummeted by 50% within just over a week, influenced by actions from DeLabs and substantial sales initiated by influential traders. Notably, DeGods introduced its “Season 3” content drop, featuring the option for NFT holders to enhance their artwork and participate in a “points parlor” game. Nevertheless, both DeGods and y00ts experienced sharp market downturns following these developments.
DeLabs revealed that the y00ts PFP collection would transition from Ethereum scaling network Polygon to the Ethereum mainnet, returning a $3 million grant from Polygon Labs that supported the previous move. In the midst of these changes, Blur’s gamified incentives, enabling NFT traders to earn BLUR tokens through trading activities, contributed to the collection’s challenge in recovering its floor price. The departure of Finn DeGods and ongoing market shifts have amplified the recent turmoil surrounding the once-vibrant NFT collection.