Solana’s Yakovenko Sparks Controversy Over Memecoin and NFT Value Debate
Solana co-founder Anatoly Yakovenko has stirred major controversy in the crypto space by calling memecoins and NFTs “digital slop” in a recent post on X (formerly Twitter). Despite the fact that memecoin activity accounts for a staggering 62% of Solana’s dApp revenue in June 2025, Yakovenko insists these digital assets have “no intrinsic value.”
In a heated exchange with Base creator Jesse Pollak, Yakovenko likened memecoins and NFTs to loot boxes found in mobile games—unpredictable, addictive, and profit-driven. He claimed, “I’ve said this for years,” reaffirming that their value comes purely from market speculation, not from the content itself.
Crypto Community Fires Back
Yakovenko’s comments weren’t received lightly. Critics argue that dismissing memecoins and NFTs as worthless is hypocritical, especially considering Solana’s heavy reliance on them for growth. Notable voices like Flaunch contributor “Caps” and commentator Karbon blasted the CEO for seemingly mocking the very user base that helped propel SOL to its current status.
Karbon remarked, “I find Toly’s approach much more distasteful,” referring to Yakovenko’s promotion of memecoins despite claiming they hold no value.
Solana’s Memecoin Boom Continues
According to Solana-focused firm Syndica, memecoins fueled $1.6 billion in SOL revenue in the first half of 2025. Platforms like Pump.fun and PumpSwap have dominated memecoin trading, though newcomers like LetBonk are gaining ground, at times outperforming Pump.fun in daily revenue.
Yakovenko acknowledged SOL’s success wouldn’t be possible without memecoins, yet he maintains a critical stance—calling them a necessary evil in a market driven by hype and speculation.
