Solana NFT Breakdowns · 03
DeGods.
Left Solana. Came Back.
Episode three. Ten thousand gods, a token that fell ninety nine percent, a migration to Ethereum, a return, and a founder who walked away.
DeGods is a Solana NFT collection of 10,000 items minted in October 2021 at 3 SOL. It left Solana for Ethereum in 2023, returned, launched two tokens, and its founder handed over as chief executive in May 2025. It still trades on Magic Eden today.
Minted
October 2021, at 3 SOL, sold out fast.
DUST Peak
All time high, 29 May 2022. CoinGecko.
DUST Drawdown
From that high to 3 September 2026.
Founder Left
Frank DeGods stepped down as CEO.
The Rise
A collection that was nearly abandoned, then was not.
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October 2021
Three SOL And A Slow Start
Ten thousand items at 3 SOL. It struggled early, close to being written off, and then recovered into one of the most recognisable brands on the chain. The comeback is the reason people know the name.
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January 2022
The DUST Token
An SPL token used for staking, for upgrading a DeGod to a DeadGod, and for governance. It peaked at $7.58 on 29 May 2022 per CoinGecko. Adding a token to a PFP collection was novel then and is now the standard playbook.
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April 2022
A Stake In A Basketball Team
The community treasury bought a $625,000 stake in the BIG3 team Killer 3s. Whatever you make of it, it is one of the few examples of an NFT treasury buying a real asset rather than more JPEGs.
The Turn, And What It Cost
Two chain migrations, a token that did not survive them, and an exit.
December 2022, Announcing The Exit From Solana
DeGods said it was leaving Solana for Ethereum, and its sister collection y00ts for Polygon. Announced 27 December 2022, in the depths of the post FTX Solana bear market. The bridge to Ethereum was completed in the first half of 2023; sources give different months for it.
The Token Did Not Come Through It
DUST went from $7.58 in May 2022 to fractions of a cent by 3 September 2026, a drawdown of about 99.9 percent, on a market capitalisation now in the low hundreds of thousands. A successor token, DEGOD, launched in September 2024.
May 2025, The Founder Stepped Down
Frank DeGods, Rohun Vora, announced he was retiring as chief executive of both DeGods and y00ts, saying attention on him personally may have been holding the projects back, and denying rumours he was under investigation. Reported by The Block on 12 May 2025. Two pseudonymous community figures took over. This was a leadership handover, not a sale of the brand.
Round Trip, And What It Cost To Take It
It left Solana and it came back. Holders paid the friction on both legs, in bridge steps, in split liquidity across marketplaces, and in a collector base that had to be told twice where the collection now lived.
What It Teaches
Three things worth taking off this one.
A Chain Migration Is A Tax On Holders
The team gets a headline and a grant. Holders get a bridge, a new marketplace, thinner liquidity and a period where nobody is sure which contract is the real one. Both migrations here ended with the collection roughly where it started.
The Token Is The Riskier Half
The NFT still trades. The token that was supposed to give it utility is down about 99.9 percent. When a collection bolts on a token, those are two positions with two risk profiles, and the token is usually the one that goes to zero.
A Project Built On One Person Has One Person Of Risk
The founder said so himself on the way out. A brand that runs on a personality has to survive that personality leaving, and most do not get to find out gracefully.
Supply and current floors from the live Magic Eden feed on this site, read 3 September 2026. Dated events from Hypebeast 3 October 2021 and 27 April 2022, Decrypt 17 February 2022, 13 February 2023, 20 April 2023 and 10 August 2023, CoinDesk 20 September 2022, 6 January 2023, 28 March 2023 and 10 August 2023, Cointelegraph 10 August 2023, The Block 12 May 2025, and CoinGecko for DUST token prices. Peak floor prices are not published where no dated source gives one.
The Other Breakdowns
Same shape every time: what happened, what it cost, and what it teaches.
Common Questions
A Solana NFT collection of 10,000 items minted in October 2021 at 3 SOL each, created by the studio behind y00ts. It trades on Magic Eden under the symbol degods.
Yes. It announced a move to Ethereum on 27 December 2022 and completed the bridge in the first half of 2023, then later returned to Solana and now trades there again.
It peaked at $7.58 on 29 May 2022 and traded at fractions of a cent on 3 September 2026, a drawdown of roughly 99.9 percent, per CoinGecko. A successor token called DEGOD launched in September 2024.
Frank DeGods, Rohun Vora, stepped down as chief executive of DeGods and y00ts in May 2025 and two pseudonymous community figures took over, per The Block on 12 May 2025. It was a leadership change rather than a sale of the brand.
It changes hourly. The live table on this site reads it from Magic Eden, so that number is current rather than whatever was true when this page was written.
The Rise Is The Easy Half.
The Turn Is The Lesson.
Every breakdown on this site publishes what went wrong at the same weight as what went right, with a date on each of them.
Not financial advice.