Solana Co-Founder Stirs Debate After Calling Memecoins and NFTs ‘Digital Slop’

Solana co-founder Anatoly Yakovenko has sparked a heated debate across the crypto community after dismissing memecoins and non-fungible tokens (NFTs) as “digital slop” in a recent post on X. The remark has drawn particular scrutiny given the fact that memecoins have played a major role in driving Solana’s rapid growth and network revenue. “I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value,” Yakovenko posted on Sunday, likening them to loot boxes found in free-to-play mobile games. His comment came during an ongoing exchange with Jesse Pollak, the creator of Coinbase’s Layer-2 network Base, who challenged the idea by arguing that NFTs and meme assets hold inherent creative and cultural value. Pollak compared NFTs to paintings, stating, “The content itself is valuable, just like a painting is fundamentally valuable, regardless of whether you charge people at the museum to see it.” Yakovenko Defends Stance While Yakovenko acknowledged Solana success was significantly propelled by memecoin activity, he drew a parallel with Apple’s App Store revenue model, which is heavily dependent on loot box mechanics. Loot boxes, often found in free-to-play games, have been criticized for their predatory design, encouraging users to spend money on randomized rewards. Several countries, including Australia and Germany, have introduced regulatory actions against such practices. Yakovenko used the analogy to underscore his argument that just because something generates profit does not mean it carries intrinsic value. Despite the criticism, this isn’t a new viewpoint for the Solana Labs CEO. His earlier posts dating back to January 2024 indicate he has consistently questioned the inherent worth of meme assets and NFTs. Solana Still Profiting Massively from Memecoin Craze Despite Yakovenko’s harsh characterization, Solana remains heavily reliant on memecoin activity . According to data from infrastructure firm Syndica, memecoins accounted for a record 62% of Solana’s decentralized app (dApp) revenue in June. In fact, memecoin trading and launches contributed the majority of Solana’s $1.6 billion in network revenue during the first half of 2025. A significant portion of this activity comes from platforms like Pump.fun, a launchpad for Solana-based memecoins, and its associated DEX aggregator, PumpSwap. However, competition is heating up. A newer launch platform, LetsBonk has begun challenging Pump.fun’s dominance , even surpassing it in 24-hour revenue on multiple occasions. Despite Yakovenko’s criticism, it’s clear memecoins are still deeply embedded in Solana success. The post Solana Co-Founder Stirs Debate After Calling Memecoins and NFTs ‘Digital Slop’ appeared first on TheCoinrise.com .

Source: The Coin Rise