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Solana Co-Founder Sparks Debate: Are Memecoins and NFTs Just “Digital Slop”?

  • Writer: Sammy Salmela
    Sammy Salmela
  • Jul 28
  • 2 min read
Solana co-founder Anatoly Yakovenko speaks out against memecoins and NFTs

Article with AI Analysis

Date: 28 July 2025

Source: Cointelegraph


Introduction

Solana co-founder Anatoly Yakovenko has caused a stir in the crypto world. In a bold statement, he labelled memecoins and NFTs as “digital slop,” sparking intense debate across the blockchain community. His comment, though blunt, touches on a deeper question: do these digital assets have real value or are they simply speculative distractions?


The Comment That Shook Crypto

In a post on X (formerly Twitter), Yakovenko said:

“I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value.”

This was part of a heated discussion with Jesse Pollak, creator of Base, who countered that memecoins and NFTs like art hold value because of what they represent and how people connect with them.

Yakovenko didn’t back down. He compared the popularity of memecoins to loot boxes in mobile games: addictive, profitable, but ultimately empty.


Solana’s Paradox: Built on What It Criticises

The irony? Memecoins are a huge part of Solana’s success.

Recent data shows that over 60% of Solana's decentralised app revenue in June came from memecoins primarily via platforms like Pump.fun and PumpSwap. In total, memecoins have generated more than $1.6 billion for the network in 2025 alone.

Even Yakovenko admitted:

“Without memecoins, Solana wouldn’t be where it is today.”

So why criticise what has helped build your platform?


Divided Community, Clear Signals

The backlash was swift. Crypto influencers and developers called Yakovenko out for biting the hand that feeds Solana. Some argued that his words insult the community that has driven innovation and engagement on the platform.

Yet others saw a wake-up call. Are we putting too much faith and money into tokens with no long-term use? The crypto space has always been experimental, but perhaps it's time for deeper reflection.


AI-Powered Sentiment Analysis

Our AI analysis of this article revealed:


  • Sentiment Score: -0.22Indicates slightly negative tone due to criticism and controversy.

  • Financial Sentiment: -1.35Highlights concern over reliance on low-utility revenue streams.

  • Polarity Score: 0.07Suggests a mostly neutral stance with subtle emotional contrast.

  • Subjectivity Score: 0.41Moderately subjective based on opinions and perspectives in the debate.


These scores suggest a community grappling with contradictions balancing financial gains from speculative assets against a desire for meaningful blockchain innovation.


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Disclaimer

This article was generated using AI and reviewed for accuracy. The information presented is for educational purposes only and should not be construed as financial advice. Always consult with a professional before making investment decisions.

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