Solana Co-founder Anatoly Yakovenko has come under fire after calling memecoins and NFTs “digital slop” with “no intrinsic value.” His controversial comment came during a debate with Base creator Jesse Pollak on X, on July 28.
“I’ve said this for years. Memecoins and NFTs are digital slop,” Yakovenko posted, comparing them to loot boxes in mobile games, which are in-app rewards often criticized for encouraging addictive spending.
Pollak disagreed, arguing that the content behind NFTs has value, much like a painting in a museum. Yakovenko admitted Solana’s growth depends heavily on memecoins, but said it’s no different from how Apple profits from loot box-driven mobile games.
Memecoins Dominate Solana Revenue
Despite Yakovenko’s criticism, Solana thrives on memecoin activity. According to a July 2025 report by blockchain infrastructure firm Syndica, memecoins contributed 62% of Solana’s decentralized app (dApp) revenue in June. That pushed Solana’s total revenue for the first half of 2025 to $1.6 billion, largely due to memecoins.
Most of this revenue came from Pump.fun, a Solana-based memecoin launchpad, and PumpSwap, a DEX aggregator. However, rising competitor LetBonk has recently challenged Pump.fun’s dominance.
Community Pushback
Yakovenko’s harsh take drew backlash from the community. One user, “Caps,” accused him of disrespecting the very user base that made Solana successful. Another user, “Karbon,” accused him of promoting memecoins while believing they’re worthless.
Nevertheless, even despite the position of Yakovenko, memecoins remain a major force behind Solana’s growth, which demonstrates the evident divide between opinion and on-chain reality.
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