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Frank DeGods Net Worth, Crypto and NFT Investments

ByOlaleye KomolafePRO INVESTOR
Updated: 
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Rohun Vora, popularly known as Frank DeGods, has become a household name in the NFT space following the success of DeGods and Y00ts. The astonishing prosperity of the two NFTs projected the entrepreneur into the spotlight. Likewise, Frank DeGods also amassed the bulk of his eight-figure net worth from his endeavors in the NFT market.

Frank DeGods

Before venturing into the NFT space, Frank pursued a career in the movie industry. His passion for acting made him study filmmaking at the University of California (UCLA). However, he failed to complete the program after switching his interest to tech entrepreneurship. In spite of his successes across various sectors in the tech world, Frank DeGods couldn’t make fortunes until he ventured into the NFT space. 

Frank DeGods’ Net Worth

Year Net Worth
2023 $50 million

Early Life

Frank DeGods is a movie-savvy person. His love for movies and acting is so great to the extent that he once watched 452 movies in a year. Although details about his early background are sketchy, there are reports that he attended the University of California (UCLA) to study filmmaking. The institution is a public land-grant research university based in Los Angeles, California. However, in spite of his attempt to pursue a career in the movie industry, his entrepreneurship drive kept this ambition at bay.

Therefore, he dropped out of UCLA to co-found a grocery delivery startup. Initially, the startup was named NEED. Later, it was rebranded to Duffl. He co-founded the company alongside four of his friends. The company enjoyed users’ patronage and ultimately became a success. Within five weeks of its emergence, Duffl began to make over eighty-five (85) deliveries daily. 

This feat made it possible for the firm to secure a successful entry into Y Combinator, a startup accelerator company. Y Combinator then injected $150,000 into Duffl. With this investment, the firm started to grow, recording at least $240,000 in revenue. Later, it raised about $1.1 million worth of revenue. However, an internal crisis brought Frank’s relationship with the company to an end. Then, he alongside two other co-founders left the company. 

Away from Duffl, Frank DeGods decided to learn computer programming at a coding boot camp. Eventually, he got a marketing job at Main Street, a software development company. His awesome performance with the firm helped raise its yearly revenue and overall valuation. 

DeLabs

After learning about Bitcoin around late 2020, Frank DeGods became curious about the working model of a blockchain. Later, he became an active community member of the Solana, devoting more time to learning about the ecosystem. With this commitment, he was able to know more about blockchain. Eventually, he co-established DeLabs and Dust Labs. The two firms are mostly mistaken for each other or most times identified as the same. But, they are separate entities. DeLabs is the firm behind DeGods and its sister collection, Y00ts. 

Dust Labs on the other side is a Software-as-a-Service (SaaS) company that aims to design products for other NFT projects. The company is headed by Frank’s collaborator, Kevin Henrikson, who is also known as “Kevin DeGods” in the NFT community. Kevin is the CEO of Dust Labs, making him the face of the company. 

Meanwhile, Frank launched DeGods on October 8, 2021, for a mint price of 3 SOL equivalent to about $450 at that time. Within a few seconds of its launch, the NFTs were already sold due to a technical glitch. This development birthed outrage from members of the community who couldn’t participate in the minting exercise. Then, community members accused Frank of attempting a rug pull with the project. The controversy nearly pushed the project into extinction.

Later, Frank decided to focus on solving the Paper Hands issue with the NFT collection. The Paper Hands refers to a situation where NFT holders sell their collected pieces below the floor price. To solve this issue, Frank with DeGods introduces the “PHBT” mechanism that injects a 33.3% tax on users that list their pieces from the collection on NFTs marketplaces. 

The tax rate was introduced to discourage users from selling their collections below the floor price. Likewise, the team uses the fees accumulated from the taxes to burn some of the pieces in circulation from the collection. Nonetheless, the PHBT experiment could not provide a lasting solution to the issue. Therefore, Frank, alongside the team, resolved to withdraw the mechanism and introduce various modifications to the collection. While speaking about the development, Frank DeGods in a post on X (formerly Twitter) said, “We tried some shit. We learned some shit. Now we’re trying some new shit.”

In January 2022, the team announced the introduction of the DUST token and a 2nd generation NFT collection, DeadGods. DUST is a decentralized multi-chain utility and governance token. The DeGods team intended to facilitate community-led governance over holder proposals and the Dust DAO treasury. Meanwhile, the token has a maximum supply of 33,300,000 DUST. Frank also introduced staking features for DeGods during the month. Barely twenty-four hours after this feature was unveiled, more than half of its total supply was staked.

The DeadGods collection on the other hand was officially launched four months later. DeadGods NFTs are the mutated versions of DeGods NFTs. The collection is created by transcending DeGods NFTs using DUST tokens. According to findings, users can mutate their DeGods into DeadGods by paying 1000 DUST. The mutation is designed to function in a one-of-one swap so as to reduce the DeGods in circulation and spike its rarity. Notably, DeGods and DeadGods NFTs are switchable at any time.

In September 2022, Frank oversaw the launching of Y00ts, another NFT collection. Then, users were mandated to pay about 375 DUST to mint a piece of the collection. More so, the success of DeGods paved the way for the launching and the eventual market acceptance of Y00ts. However, the minting exercise of the new project didn’t go as planned, thereby forcing Frank and the team to take a break from social media. The issue triggered another controversy for him as many participants couldn’t mint the NFT. 

Then, Frank explained that the break was necessary so that the team could focus on organizational issues and improve the questionable aspects of its projects. Eventually, the issues were resolved, and the outrage suddenly went down. DeGods and Y00ts became the hottest cakes in the NFT market, thereby raising the popularity of Frank. For instance, DeGods emerged as the most popular Solana-based NFTs. The same year, Frank revealed his true identity as Rohun Vora. Then, he shared a screenshot from his Instagram account. 

In December 2022, Frank alongside his team announced that the DeGods collection would migrate to Ethereum.  Also, the sister collection of the DeGods; Y00ts was scheduled to migrate to the Polygon network. The multi-chain exercise saw DeGods venture into Bitcoin as Ordinal Inscriptions.

It is worth mentioning that DeGods has a decentralized autonomous organization known as DeDAO. The DAO is funded by DeGods marketplace fee of 9.99%. The revenue is split into 6.66% and 3.33% respectively with the former going to the DeDAO and the latter to the DeGods’ core team. In addition, DeDAO allocates its funds to liquidity pools on decentralized exchanges and provides support for talents within the community. Similarly, the DAO also uses the funds to purchase assets for raffles and auctions.

In August 2023, DeGods announced the release of its Season III. The new version of the global NFT collection was characterized by a significant design overhaul. According to the announcement, the design overhaul was done to simplify their logos, thereby enhancing its recognition. Similarly, the team unveiled a “Downgrade” concept as part of the notable features of the Season III collection. While explaining the new concept, the project team admitted that it misjudged its previous approach. In addition, the team conceded that community feedback made them realize that the approach was wrong. 

Meanwhile, shortly after the unveiling of DeGods’ Season III, Frank guided Y00ts’ migration to the Ethereum blockchain. Before the migration, the collection was the second-most-selling NFT on the Polygon blockchain. The migration was done so as to increase the feasibility of the collection to a wider audience. 

Is Frank DeGods Pro Crypto?

Frank DeGods is a name that will continue to ring a bell in the crypto and NFT space. He discovered the great potential of cryptocurrency, particularly Bitcoin while working at MainStreet. Frank’s admiration for Bitcoin propelled him to establish a website, bitcoinorshit.com. This website allowed people to “see what your dumbest purchases would be worth if you bought Bitcoin instead.” Just like other staunch Bitcoin investors, Frank believes in the superiority of Bitcoin over other digital assets, describing it as “the global reserve currency.”

Similarly, he is convinced by the promises of blockchain and Web3. Over the years, he devoted his time to researching the rudiments of these technologies and their implications for the internet. His understanding of Web3 has made it possible for him to earn the trust and support of many Degens – people who engage in crypto trading.

Nonetheless, amid the tremendous interest in crypto, Frank decided to shift his attention to NFTs. His adventure in the NFT space birthed DeGods and Y00ts on Solana. With Y00ts, Frank built a community of Web3 developers and creators, featuring 15,000 corresponding NFTs. At the initial stage of DeGods and Y00ts, he chose to be anonymous but eventually doxxed himself. People became excited after getting to know he was the brain behind the two projects due to his entrepreneurship resilience. The development also triggered the floor prices of DeGods and Y00ts to 349 SOL and 138 SOL respectively. There’s no doubt that his doxxing did him good.

Despite shifting his full attention to NFTs, Frank has not lost touch with Bitcoin. This is evidenced by how he was able to inscribe 535 DeGods on Bitcoin through Ordinals. Don’t forget that Ordinals have continued to see the spotlight since its debut in January 2023, introducing NFT and smart contract inscriptions on Bitcoin. The new narrative provides a unique method of generating NFTs. By integrating DeGods into Bitcoin Ordinals, Frank has demonstrated his ability to stay on top of emerging trends within the industry.

He said; “Bitcoin is the best brand in crypto—just as pristine as it gets. It’s the most well known, and truly as simple but powerful as it can get. And the mission statement is it’s never been corrupted, right? It’s like global sound money. That is so powerful. Aligning ourselves with the best brand in crypto is a no-brainer at any given point in time.”

Just like other tycoons in the blockchain world, Frank is a regular face at numerous international conferences and summits geared towards raising awareness about the potential of crypto and NFTs. Around July 2023, he graced Korean Blockchain Week which featured thousands of experts spanning across all spheres in the digital asset industry. Likewise, he has also made several podcast appearances to speak to people about the rudiments of blockchain and NFTs.

More so, the DeGods founder is well-known on X (formerly Twitter) due to his consistent tweets about emerging trends and issues in the space. He does not shy away from conveying his thoughts and perceptions on happenings. Frank opposes what he describes as “blockchain tribalism” and has consistently agitated against it. His belief is that every blockchain, irrespective of its use cases, is bound to thrive.

Crypto and NFT Holdings of Frank DeGods

Frank DeGods is a Bitcoin bull. Therefore, it is not surprising that he holds the asset in his crypto portfolio. Although the exact value of his Bitcoin holdings is not known to the public, the DeGods founder is described as a top investor. Similarly, he also holds several altcoins including Ethereum and Solana.

Apart from his crypto holdings, Frank also has an NFT portfolio. He holds a good number of DeGods, Y00ts, and many other limited-edition collections.

Crypto and NFT Projects Featuring Frank DeGods

Frank’s decision to publicly reveal his identity has undoubtedly earned him more fame, making him the subject of attention for crypto projects. Recently, he was featured on the list of prominent blockchain personalities by a well-known crypto media. Without any doubt, other projects, particularly Wall Street Memes will also feature the DeGods creator in its daily mind-boggling content.

Wall Street Memes has become a great sensation on social media, featuring the endeavors of highly-celebrated crypto proponents in its humorous memes. Top guys like Vitalik Buterin, Elon Musk, Nayib Bukele, and several others have all appeared in many of its memes. Therefore, it is expected that Frank will earn the same level of attention soon.

By featuring the aforementioned celebrities, Wall Street Memes has won the hearts of strong social media users to its sides. It has been able to achieve this feat in spite of the saturated nature of the Internet. The project’s popularity is spreading across all corners of social media like wildfire. With over one million active community members, it is not an overstatement that Wall Street Memes is a leader in the meme industry.

The amazing success of this project has tremendously impacted its $WSM presale. Apart from the subtle backing from Elon Musk, the activities of top crypto influencers like Joe Parys and CryptoWendyO have ignited great excitement and participation in the presale. These influencers have continued to encourage their subscribers to invest in $WSM, describing it as the next big thing in the market.

With participation from scores of crypto whales, the Wall Street Memes team has netted $26 million in investment from the token sale. This milestone establishes the event as one of the most successful crypto presales in the market. According to its team, the meme coin will record multiple tier-1 CEX listings by September.

You can check wallstmemes.com for details.

Frank DeGods’ Net Worth – Our Verdict

Frank DeGods has become the toast of many in the Web3 world because of his entrepreneurship resilience. Prior to his engagements in the NFT sector, he pursued several other tech aspirations and excelled. Therefore, his antecedent as a flawless entrepreneur caused the excitement that greeted his doxxing as the creator of the DeGods and Y00ts projects. The frenzy trended on Twitter for some weeks with the hashtag #doxxwithfrank. Similarly, the self-revelation of his identity also strengthened the trust reposed in the NFT projects.

Without any doubt, Frank DeGods made a significant portion of his $50 million net worth from the success of these projects.

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FAQs

What's the 2023 net worth of Frank DeGods?

The 2023 net worth of Frank DeGods is estimated to be around $50 million.

When did Frank develop DeGods on Solana?

Frank developed DeGods on Solana in 2021.

When did Frank doxx himself?

Frank revealed his real identity in late 2022.

Olaleye KomolafePRO INVESTOR
Author

Olaleye is a professional reporter with vast experience in web3, cryptocurrencies, and NFT journalism. He enjoys writing about the evolving metaverse sphere and the prevalence in the crypto sphere. Notably, some of his contents have been published in numerous international publications. Away from the crypto world, Olaleye is a political scientist and a lover of football.

View all posts by Olaleye Komolafe

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