- Yakovenko labels NFTs and memecoins as “digital slop” despite Solana’s revenue dependence.
- Memecoins made up 62% of Solana’s dApp revenue in June 2025, driving $1.6B in H1 revenue.
- Crypto figures criticize Yakovenko for dismissing tokens that helped grow the Solana ecosystem.
Solana Labs CEO Anatoly Yakovenko has stirred controversy after labeling non-fungible tokens (NFTs) and memecoins as “digital slop.” The comment came during an ongoing debate over the value of digital assets and has prompted sharp reactions across the crypto community.
In a post on X, Yakovenko stated that NFTs and memecoins “have no intrinsic value,” a position he claims to have held since early 2024. He compared them to “loot boxes” in free-to-play mobile games, suggesting they function primarily as speculative instruments.
His comments were made during a discussion with Jesse Pollak, the creator of the Base blockchain, who disagreed, arguing that NFT content holds value in the same way a painting does.
Related: Solana-based Memecoins Gains 5% Today as SOL Price Rallies Above $200
Data shows memecoins drive Solana’s revenue
Despite his statements, Yakovenko also admitted that Solana’s recent success has been tied to memecoin activity. This is backed by data from infrastructure provider Syndica, which shows that in June 2025, memecoins accounted for 62% of all decentralized app revenue on the Solana network.
Between January and June 2025, memecoin transactions also contributed to the majority of Solana’s $1.6 billion in total network revenue, with much of this activity coming from launchpads like Pump.fun.
Community pushes back on Yakovenko’s remarks
Several figures in the crypto community responded to Yakovenko’s remarks. A contributor to the Flaunch protocol, identified as “Caps” on X, accused the Solana executive of calling out the same users who fuel the network’s growth. Another commentator, “Karbon,” contrasted Yakovenko’s stance with Ethereum co-founder Vitalik Buterin’s, calling Yakovenko’s dual role as promoter and critic “distasteful.”
Related: What Are Non Fungible Tokens (NFTs)? What are Its Future Possibilities?
The debate comes as rival memecoin launchpad LetBonk challenges Pump.fun’s dominance, occasionally surpassing it in daily revenue. The rise of alternative platforms reflects continued demand for memecoin-related applications despite ongoing discussions around their long-term value.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
