New reports indicate that GameStop has taken steps to develop a marketplace for non-fungible tokens (NTFs), marking the latest development in its ongoing effort to transform its core business. A source familiar with the matter told The Wall Street Journal that the video game retailer has hired over twenty people to facilitate the creation of “an online hub for buying, selling, and trading NFTs of virtual videogame goods such as avatar outfits and weapons.” The once-ridiculed company has become a subject of much discussion in the past year as GameStop stock became the center of a widely reported short squeeze, driven and catalyzed in part by the r/wallstreetbets community of the social media site Reddit. While much of the media coverage at the time portrayed the short squeeze as an ex nihilo invention of the r/wallstreetbets subreddit, the short squeeze has its roots in institutional investors who saw potential in the beleaguered video …