Advertise
- Zafar Naik
Zafar Naik
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 28, 2025 08:59 UTC
-
Solana Co-Founder Claims NFTs, Meme Coins Have ‘No Value’, Sparks Backlash
Solana co-founder Anatoly Yakovenko called NFTs and memecoins “digital slop” with no intrinsic value.
The remark sparked backlash from NFT leaders and the broader crypto community.
Yakovenko defended his stance, emphasizing transparency and cleaner market structures.
Solana might be known for its fast tech and memecoin mania but its own co-founder isn’t impressed.
In a controversial post on X, Anatoly Yakovenko, co-founder of Solana, slammed the two biggest drivers of activity on his blockchain, memecoins and NFTs, calling them “digital slop with no intrinsic value.”
He compared them to loot boxes in mobile games, where people spend real money on flashy items with little real use.
“I’ve said this for years. Memecoins and NFTs are digital slop. Like a mobile game loot box. People spend $150B a year on mobile gaming,” Yakovenko wrote.
Apparently, just because people pay for something doesn’t mean it’s worth anything.
Crypto Twitter Reacts
The post didn’t go unnoticed, especially because memecoins and NFTs are exactly what brought users and volume to Solana.
Another influencer fired back saying without that so-called “slop”, Solana would be as forgotten as Tezos, an old “Ethereum killer” that barely sees any action today.
Even Adam Hollander, CMO at OpenSea, wasn’t holding back:
Disappointing take. And just flat out wrong. The concept of provable transparent digital ownership isn’t going anywhere. And absolutely has intrinsic value.
Other users pointed out that entertainment itself holds value, even if it’s subjective. “Entertainment and media is a multi trillion dollar industry,” one user replied, adding that while not all NFTs offer utility, many still hold cultural or emotional value.
Is Yakovenko Being Harsh or Just Honest?
Despite the backlash, Yakovenko didn’t back down. In a follow-up tweet, he shifted the focus to market fairness and transparency:
“What’s important to me is that the shitheads that obfuscate or mislead about market conditions or market structure are nuked from orbit.”
This isn’t the first time Yakovenko has taken a strong position. He has consistently pushed for better market tools, clearer regulations, and cleaner trading practices.
His background as a systems engineer and Solana’s focus on performance suggest that his frustration may lie more with manipulation and hype than with the assets themselves.
The Bigger Picture
While Yakovenko’s comment may have upset parts of the community, it also reflects a broader conversation in crypto: What gives an asset value – utility, speculation, or ownership?
Solana, now valued at over $104 billion, has built its user base through fast transactions, meme coin culture, and a thriving NFT scene. What will power the growth forward? Let’s wait and watch.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
He believes memecoins lack utility and are driven by hype, not value—similar to flashy but empty mobile game purchases.
Yes, Yakovenko has consistently pushed for transparency, better trading tools, and market fairness in the crypto space.
NFTs and memecoins have driven major traffic and adoption on Solana, boosting its ecosystem and user engagement.
Yes 
No 
