Frank DeGods is out. Poof. And just like that, one of the most iconic characters of the NFT space has departed. While some are celebrating fresh blood and a new direction for DeGods, I can't help but see this as a flashing neon sign screaming about a problem festering within Web3: the *dangerous obsession with personality-driven projects.

Is This Web3's Celebrity Problem?

Think about it. How many Web3 projects are so inextricably tied to their founders’ personalities or ideals? So many! The hype and community can’t be built on the charisma of one person. The fabled genius of this person makes it all immensely more valuable. We're not building decentralized systems; we're building digital fiefdoms ruled by meme-lords. Frank's departure, regardless of the reasons (and let's be honest, the insider trading allegations, denied or not, cast a long shadow), highlights the fragility of this model. What happens when the king abdicates? Does the kingdom crumble?

This isn’t just a DeGods problem, it’s a Web3 problem. We find this dynamic with the arts all across the country. DAOs are organizing around Twitter influencers, and DeFi protocols are pumping themselves largely due to the charisma of their developer’s pseudonym. Are we any better than the studios in Hollywood, who place bets of hundreds of millions on the drawing power of one actor? Except this time in Web3, where the stakes are even higher, the regulatory framework is absent, and risk of rug pulls is constantly looming.

The "Visionary" Trap: Are We Blinded?

Frank DeGods, agree with him or vilify him, was a prophet in many circles. He took bold moves, like migrating DeGods across blockchains and leaning into the chaos. These ambitious moves carried the project to fruition. But were they? Or were they just the fancies of a leader who had garnered too much power and sway?

This is the visionary trap. As a bitcoin community, we are all in a rush to find the next Satoshi Nakamoto. In our excitement, we too easily skip past gaping holes in the execution of governance and decentralization. We let these numbers off the hook, shrugging at bad practices under the guise of “they’re just so innovative, they’re building the future.” At what cost?

Consider the history of cults. Elevator pitches Charismatic leaders seduce the masses with visions of what could be—of a more glorious, utopian new world order. They develop a rabid following, sometimes requiring complete fealty. Dissent is silenced, and independent thought is discouraged. Sound familiar?

I’m not arguing that DeGods was a cult, but the comparison is frankly disturbing. All of these examples demonstrate how some community members exhibit zealous loyalty and operose willingness to ignore glaring warning signs. Yet they are entirely dependent on Frank’s vision, exposing an ironic system that favors personality over substance.

Decentralization or Centralized Personalities?

Web3 promised us a decentralization utopia, a future liberated from the jails of the centralized overlords. Yet, we've created a system where the fate of multi-million dollar projects hinges on the decisions of a single individual. The irony is staggering.

So, what's the solution? So how do we get out of this cult of personality? We must change our narrative away from singular leaders to the technology and governance frameworks that have become the norm. Here's what we need:

  • True Decentralization: Implement robust DAO structures with meaningful voting power distributed across the community.
  • Transparency: Demand radical transparency from project teams. Open-source code, audited financials, and clear communication are essential.
  • Accountability: Hold leaders accountable for their actions. Don't be afraid to ask tough questions and challenge questionable decisions.
  • Focus on Utility: Prioritize projects with real-world utility and sustainable business models over hype and marketing.

Frank's exit is a wake-up call. It’s high time to revisit our priorities and foster a Web3 environment that lives up to its promise of decentralization, transparency, and resilience. Time to retire the great man theory of change. Together, we can build a better tech future that works for everybody—not just the people at the top. Our new co-CEOs, @0x_chill and @pastagotsauce are pseudonymous. While this could be a promising sign that the Administration is heading in the right direction, stay tuned—words will only go so far. Pasta teases at adventurous directions to come, while pledging to respect the legacy it inherits. That’s a hopeful sign, but we’ll know the real story when it plays out. Will they really go through with decentralization, or will they just become the new faces of the DeGods cabal? Only time will tell. But one thing is certain: the future of Web3 depends on our ability to learn from the past.