# What's Going On In Web3 | October 19, 2022

By [d3layd](https://paragraph.com/@d3layd) · 2022-10-19

---

Here’s the headlines you probably missed from yesterday, and a few from this morning. We’ll be talking about this and more during today’s MindfulGMs at 9:30 AM CST on Twitter. Here’s the link:

[https://twitter.com/i/spaces/1ynJOabXREQKR?s=20](https://twitter.com/i/spaces/1ynJOabXREQKR?s=20)

IRS 2022 Tax Guidelines to Treat NFTs as Stablecoins, Cryptocurrencies
----------------------------------------------------------------------

[https://decrypt.co/112367/irs-2022-tax-guidelines-treat-nfts-stablecoins-cryptocurrencies](https://decrypt.co/112367/irs-2022-tax-guidelines-treat-nfts-stablecoins-cryptocurrencies)

*   Same rules as crypto: if you sell, exchange, gift, or transfer you pay capital gains tax
    
*   If you received a NFT as compensation for services
    

Kraft, In-N-Out, Del Monte Foods file web3 trademark applications
-----------------------------------------------------------------

[https://cointelegraph.com/news/food-companies-secure-trademarks-to-enter-metaverse](https://cointelegraph.com/news/food-companies-secure-trademarks-to-enter-metaverse)

Prosecutors argue “insider trading” claim in the OpenSea case is accurate
-------------------------------------------------------------------------

[https://cointelegraph.com/news/prosecutors-argue-insider-trading-claim-in-the-opensea-case-is-accurate](https://cointelegraph.com/news/prosecutors-argue-insider-trading-claim-in-the-opensea-case-is-accurate)

*   Chastain is fighting insider trading charges
    
*   Claims the term doesn’t apply to NFTs and claims the court is essentially incompetent
    

Do Kwon Claims Indifference Over Losing South Korean Passport
-------------------------------------------------------------

[https://blockworks.co/do-kwon-claims-indifference-over-losing-south-korean-passport/](https://blockworks.co/do-kwon-claims-indifference-over-losing-south-korean-passport/)

*   Has an excuse for literally everything
    
*   Says the community asked him to be Rick and speak to people to get attention/users to basis cash, implies that it somehow has something to do with them being bad at speaking English.
    
*   Interview Link: [https://www.youtube.com/watch?v=RgYSJVC7Ps8](https://www.youtube.com/watch?v=RgYSJVC7Ps8)
    

Voyager is claiming insurance on their executives incompetence
--------------------------------------------------------------

[https://cointelegraph.com/news/voyager-digital-won-t-sue-its-executives-for-incompetence-will-claim-insurance-on-them](https://cointelegraph.com/news/voyager-digital-won-t-sue-its-executives-for-incompetence-will-claim-insurance-on-them)

*   Executives approved a giant loan from 3AC without following protocol In lieu of a balance sheet the founders presented voyager with a piece of paper with a single sentence on it that said their NAV was 3.729B.
    
*   When sent the DD questionnaire they provided basic business documents and a copy of it’s anti-money laundering policies
    

Jack Dorsey's Bluesky Unveils Roadmap for Decentralized Social Networks
-----------------------------------------------------------------------

[https://decrypt.co/112332/jack-dorsey-founded-bluesky-unveils-roadmap-for-decentralized-social-network](https://decrypt.co/112332/jack-dorsey-founded-bluesky-unveils-roadmap-for-decentralized-social-network)

*   Announced back in 2019, website launched & waitlist opened up yesterday
    
*   Will allow users to choose algorithms, interoperability, data ownership, and more Obvious competitor to lens
    

NFT project Azuki launches Physical Backed Token
------------------------------------------------

[https://cointelegraph.com/news/nft-project-azuki-launches-physical-backed-token](https://cointelegraph.com/news/nft-project-azuki-launches-physical-backed-token)

*   PBT gets generated alongside a BEAN chip
    
*   The PBT standard is open source, allows for tracking lineage of physical items
    
*   Azuki is launching their first physical drop of PBTs, 9 24-carat gold-plated skateboards tied to the azuki store
    

Shopify partners with Novel to offer web3 support
-------------------------------------------------

[https://cointelegraph.com/news/shopify-partners-with-novel-to-deliver-accessible-web3-for-merchants](https://cointelegraph.com/news/shopify-partners-with-novel-to-deliver-accessible-web3-for-merchants)

*   Shop owners can gate content/products
    
*   Shop owners can launch collections & import collections
    

Thanks for reading! Follow me for more and share with someone you think would appreciate it!

---

*Originally published on [d3layd](https://paragraph.com/@d3layd/what-s-going-on-in-web3-october-19-2022)*