Solana co-founder calls memecoins, NFTs ‘digital slop’ in heated debate

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Solana co-founder Anatoly Yakovenko has sparked controversy after referring to memecoins and non-fungible tokens as “digital slop,” regardless of Solana’s substantial memecoin-driven income.

“I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value,” Yakovenko stated in a X put up on Sunday whereas evaluating the crypto tokens to loot containers in free-to-play cell video games.

Source: Anatoly Yakovenko

Yakovenko’s remark got here throughout a debate with Base creator Jesse Pollak over whether or not memecoins and NFTs have elementary worth, and if that’s the case, the place that worth lies.

The Solana Labs CEO argued that their worth is derived by means of market-driven value discovery, whereas Pollak countered that there’s intrinsic worth within the content material itself.

“The content itself is valuable. just like a painting is fundamentally valuable, regardless of whether you charge people at the museum to see it.”

Solana memecoins are like Apple’s loot containers

Yakovenko acknowledged that with out memecoins, Solana wouldn’t be the place it’s as we speak, however claimed that Apple’s revenues would even be negligible if it weren’t for loot containers.

Loot containers are in-app digital rewards discovered in lots of free-to-play video games within the Apple App Store. Critics argue they exploit gamers by encouraging repeated spending with out assured outcomes. The lack of transparency across the loot containers has resulted in regulatory scrutiny in a number of international locations, together with Australia and Germany.

Previous X posts from Yakovenko present that he has held the view that memecoins and NFTs haven’t any worth since not less than January 2024.

Source: Anatoly Yakovenko

Yakovenko hit with criticism

Yakovenko’s newest feedback obtained renewed criticism from members of the crypto neighborhood, together with Flaunch contributor and X consumer “Caps,” who referred to as out the Solana boss for mocking his consumer base.

Crypto commentator and X consumer Karbon added: “I’m not a huge fan of how Vitalik handled memecoins […] but I find Toly’s approach much more distasteful, actively promoting them constantly while believing they’re worthless.”

Solana remains to be ultra-reliant on memecoin exercise 

According to Solana-focused infrastructure agency Syndica, memecoins accounted for 62% of the Solana community’s decentralized app income in June, a brand new all-time excessive.

Source: Syndica

Related: Ozzy Osbourne’s loss of life sparks 400% surge in CryptoBatz NFTs

Memecoin exercise has pushed the vast majority of Solana’s $1.6 billion in income throughout the first half of 2025.

A big share of memecoin income has come from Solana-based memecoin launchpad Pump.enjoyable and PumpSwap, which features as a decentralized change aggregator for Pump.fun-launched memecoins.

However, rival platform LetBonk has lately emerged as a severe competitor to Pump.enjoyable, at occasions surpassing it in 24-hour income as Solana’s prime memecoin launchpad.

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