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Solana Co-Founder Questions Value of NFTs and Memecoins Despite Their Popularity
Solana co-founder Anatoly Yakovenko has sparked a firestorm within the crypto community by labeling non-fungible tokens (NFTs) and memecoins as “digital slop” with zero intrinsic value, despite their massive popularity and financial impact on the Solana ecosystem.
Yakovenko’s stance has been met with scathing backlash from prominent figures in the industry. Critics have accused him of mocking Solana’s user base, given that these assets generated 62% of the blockchain’s decentralized application (dApp) revenue in June alone. Furthermore, memecoins brought in $1.6 billion in revenue for Solana in the first half of 2025.
It is undeniable that memecoins have played a significant role in the ecosystem. Launchpad Pump.fun and its DEX aggregator Pump.Swap have generated substantial fees, with rival LetBonk recently surpassing them in 24-hour revenue. However, Yakovenko has remained steadfast in his assertion that these assets lack inherent value.
This dichotomy raises existential questions regarding the ethical profitability of blockchain networks from assets their creators deem worthless.
Source: crypto-economy.com
