The creator of the non-fungible token (NFT) collection DeGods announced that he has stepped down as the CEO of the project amid an uptick in sales. 

Rohun Vora, known online as “Frank DeGods” on X, said he has stepped down as the project’s CEO, concluding a three-year stint as the head of one of the most popular Solana-based NFT collections. 

He identified pseudonymous figures 0x_chill and Pastagotsauce as the new leaders of DeGods. “There are no investigations, because I have never done anything illegal. That’s the boring truth,” Vora wrote, addressing speculation about his departure.  

The announcement came as the NFT collection started gaining traction on the Ethereum and Solana blockchains. 

Source: Frankdegods

DeGods’ sales are up 101% on Solana

Data tracker CryptoSlam shows that in the last seven days, DeGods NFTs have seen a significant increase in sales. 

On May 12, DeGods on Solana recorded a sales volume of around $458,000, a 101% increase over the previous week. In the last 30 days, the collection had a sales volume of $1.1 million for its NFTs based on the Solana network. 

On Ethereum, the DeGods collection recorded $104,000 in sales for the past week, a 156% growth over the previous seven days. In the last 30 days, the collection recorded over $250,000 in sales, a 323% increase in sales volumes. 

Following the announcement, new DeGods project lead Pasta shared plans to release a tribute to the project’s three-year history and teased a shift in strategy.

Pasta also hinted that there will be changes in the project’s approach. “Our job isn’t to build crypto products. It’s to make DeGods as big as it can possibly be. That’s what you want. That’s what we want too. So that’s exactly what we’re gonna do,” Pasta wrote. 

Source: Pastagotsauce

Related: Doodles NFT sales surge 97% ahead of DOOD token airdrop

NFT sales are up by 17% in the last seven days

Meanwhile, the broader NFT market has also gained traction in the last seven days. CryptoSlam data shows that from May 6 to 12, NFTs recorded a sales volume of over $120 million, a 17% increase over the previous week. 

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Healthcare services provider KindlyMD has merged with Bitcoin-native holding company Nakamoto Holdings to build a BTC treasury.

According to a May 12 announcement, Nakamoto Holdings — a new company founded by David Bailey, a crypto adviser to US President Donald Trump — plans to build the first global network of Bitcoin (BTC) treasury companies in partnership with BTC Inc. Bailey said:

“Traditional finance and Bitcoin-native markets are converging. The securitization of Bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds Bitcoin.”The website of the new Nakamoto company. Source: Nakamoto

Long-term, the firm’s plan includes developing an ecosystem of Bitcoin-native companies, including media, advisory and financial services, all aiming to accelerate Bitcoin adoption and utility. The company resulting from the new merger aims to accumulate Bitcoin and grow the BTC held per share.

Related: Trump crypto adviser David Bailey raises $300M for Bitcoin investment firm

Not the first kid on the block

Much like Michael Saylor’s Strategy (formerly MicroStrategy), the new firm plans to leverage equity, debt and other offerings to achieve its objectives. The announcement promises that the company will provide “market exposure to Bitcoin within a compliant, transparent structure.”

Bailey said the combined company he will lead plans to “bring Bitcoin to the center of global capital markets” by integrating it into equity, debt, preferred shares and “new hybrid structures.” He added:

“Our mission is simple: list these instruments on every major exchange in the world.”

Deal includes $710 million in financing

Shares of KindlyMD will continue to trade on the Nasdaq under the symbol “KDLY.” The newly formed company will be renamed and trade under a new ticker.

Source: Nakamoto

The board of directors of Nakamoto Holdings and KindlyMD have unanimously approved the transaction, which will also require the approval of the latter company’s shareholders.

The transaction includes $510 million in gross proceeds from a private placement in public equity priced at $1.12 per share and consisting of common stock and pre-funded warrants in KindlyMD and $200 million in gross proceeds from the sale of senior secured convertible notes maturing in 2028.

The financing is expected to close in conjunction with the merger.

Upon completion, the newly combined firm will inherit the obligations and business relationships of Nakamoto Holdings, including marketing services provided by BTC Inc., the publisher of Bitcoin Magazine and organizer of the annual Bitcoin Conference.

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Michael Saylor’s Strategy purchased a fresh batch of Bitcoin as the cryptocurrency pushed above $100,000 last week.

Strategy acquired 13,390 Bitcoin (BTC) for $1.34 billion between May 5 and May 11, the firm announced in its filing with the US Securities and Exchange Commission published on May 12.

The acquisition has increased Strategy’s total Bitcoin holdings by 2.4% to a total of 568,840 BTC, acquired for about $39.4 billion at an average price of $69,287 per coin.

An excerpt from the Form-8 by Strategy filed on May 12. Source: Strategy

The newly announced purchases were made at an average price of $99,856 per BTC, with Bitcoin reclaiming the psychological mark of $100,000 on May 8.

Strategy achieves Bitcoin yield target

Following the acquisition, Strategy met its 2025 Bitcoin yield target, co-founder Michael Saylor said in a May 12 post on X.

The purchase brought Strategy’s BTC yield — an indicator representing the percentage change of the ratio between its BTC holdings and assumed diluted shares — to 15.5%, Saylor said in a statement on X.

Source: Michael Saylor

As previously mentioned, Strategy is seeking to maintain the Bitcoin yield target at 15% for the entire 2025 after posting a 74% BTC yield last year.

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