'I must be mad,' Rowan grimaced as he carefully tiptoed into the treasure room before him. The space before him looked like a massive bank vault carved from the rocky walls of a cave. A vast hoard of gold, gems and various treasure littered the floor.
He tightly held his black cloak around himself, feeling quite grateful that his dark leather gear was enchanted to enhance stealth. Sneaking past the dragon to get here had been challenging.
Rowan opened his bottomless bag and silently filled it with valuable riches. This would be his final quest; if he got out alive, he would be able to retire and live a life of peaceful luxury.
"Ahhh..." He trembled as a chill ran down his spine. A tingling sensation soon followed, washing through his whole body. It must have been nerves; there was nothing to worry about as long as safety precautions were maintained.
He wiped the sweat from his brow as his legs and arms started to crack and pop. "Ugghh-- what the hell??" He stammered, realizing something was wrong. "Argh!!" Pain shoots through him, causing him to drop his bag and double over.
His waist tightened, and he felt his bones contract inward. Pressure started to build below his navel, expanding as his hips reshaped to accommodate the changes.
Rowan felt his chest tighten, his tunic chafing and inflicting pain upon his suddenly sensitive nipples. "F-- Fuck!" He panicked, stripping his cloak and tunic off as fast as possible.
Now only wearing shorts and trembling, he saw a pair of budding tits that had already passed B cup. "NOO!!" He screamed, his voice climbing a few octaves. This had to be a nightmare; there was no way he would turn into a woman.
Thanks to a sudden throbbing between his legs, he barely noticed his new tail budding along with a set of horns. He felt his genitals lower on his pelvis while his cock and scrotum tightened to his crotch. "I-- I don't want to be a girl!!" He wailed, sliding a petite hand into his shorts while his hair lengthened and turned pure white.
What he found horrified him; his cock receded to only a couple of inches long, and his testes started their great migration. Not only that, but the line down his scrotum had split, gradually developing into the complex folds of his soon-to-be vulva.
Rowan collapsed to her butt, completely trembling while lustrous silver scales spread over her lithe yet shapely form. Tears streamed from her face as she peeled her shorts off and stared past her tits, which had pushed past the C range. Her penis receded until it was just a head, nestling into the warm cleft atop her feminine sex.
"No-- no... No, please..." She stammered in disbelief, pushing a fingertip over the fleshy crevice. "Eeep!" She squealed when her new urethra suddenly opened with a pop. Her vaginal hole opened up immediately after, throbbing as hot lubricant seeped from the whole.
"Oooohh..." She moaned as milky, blissful waves cascaded through her genitals and consumed her lower body.
Her tail had grown considerably, along with long dark horns that curved back. She cupped her D-cup breasts in shock, shuddering at their sensitivity. A strange calm overtook her as she wobbled and stood to her feet. The changes were completed, leaving her in a feminine, scale-covered body.
Rowan immediately sensed the male dragon stirring from the other room. He was aware of her existence, but she felt no anger. Instead, the sudden musky odor that flooded her nostrils gave her a different impression.
'Well, I did want to retire and start a family,' she mused as a broad smile spread. With dragon blood in her veins, she'd also enjoy retirement for millennia.