Solana co-founder Anatoly Yakovenko has sparked controversy after referring to memecoins and NFTs as ‘digital slop’. His comments have prompted significant reactions within the crypto community.
Yakovenko's Comment on Memecoins and NFTs
Anatoly Yakovenko asserts that memecoins and NFTs are devoid of intrinsic value, dubbing them ‘digital slop’. He made this statement in a post on X, comparing the tokens to loot boxes in mobile games. He stated, 'I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value.' This emphasizes that their price is primarily driven by market forces.
Counterarguments and Debate
Yakovenko engaged in a debate with Base creator Jesse Pollak regarding the fundamental value of memecoins and NFTs. Pollak argued that the content of the tokens carries intrinsic value, likening it to art, which is valuable regardless of whether people pay to view it in a museum. Despite the criticism, Yakovenko acknowledged that Solana would not be where it is today without memecoins.
Solana's Reliance on Memecoin Activity
According to Syndica, memecoins accounted for 62% of Solana's decentralized app revenue in June, marking a record high. Memecoins have generated $1.6 billion in revenue for Solana during the first half of 2025. A significant share of this revenue has come from the memecoin launchpad Pump.fun, which serves as a considerable source of this activity.
Yakovenko's statements have reignited discussions within the crypto community. Despite his negative stance on memecoins, the Solana network remains heavily reliant on their activity, which has contributed significantly to its financial outcomes.
