In the wake of falling NFT prices and general market turbulence, DeLabs co-founder, Finn DeGods, has announced he will step away from the project. Despite the poor timing, the NFT firm has revealed that Finn’s exit had been in the works for some months.
The news comes after nearly 2 years of hard graft from the pseudonymous co-founder, as he helped propel DeLabs’ DeGods and y00ts NFT collections to stardom. However, as the project aims to expand and develop in the future, it was mutually decided that Finn may no longer be the right fit for the job at hand.
In a statement shared via Twitter, Finn said “it’s finally time for me to move on to the next chapter,” before adding “I am still bullish on DeGods and y00ts and will always have a special place in my heart for this community.”
DeGods Prices Slide as Whales Sell Off En-Masse
The bombshell announcement came at the height of a difficult time for DeGods, as NFT prices continued to plummet following its series III launch. A cold reception to the latest update was exacerbated when several whales saturated the market with listings, which then caused the floor price to tumble.
At the start of August, things were going well for DeGods, recording a healthy floor price of around 9 ETH. However, just a few weeks later, and that price sits at just 4.04 ETH ($6,763.15), less than half of that figure. Going forwards, the remaining co-founders will need to steady the ship and find a way to steer it through the bear market.
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