Anatoly Yakovenko Calls Memecoin And NFTs "Digital Junk"

Anatoly Yakovenko, CEO of Solana Labs, sparked controversy after calling NFTs and memecoin "Digital Trash." This comment was made against the backdrop of an ongoing debate about the value of digital assets and has provoked strong reactions within the cryptocurrency community. In a post on X, Yakovenko stated that NFTs and memecoins "Have No Intrinsic Value," a viewpoint he claims to have maintained since the beginning of 2024. He compares them to "Loot Boxes" in free mobile games, arguing that they primarily function as speculative tools.

His comments were made during a discussion with Jesse Pollak, the founder of the Base blockchain, who disagreed and argued that the content of NFTs holds value similar to that of a painting. Data Shows Memecoin Boosts Revenue of Solana Despite his claims, Yakovenko also acknowledged that Solana's recent success is linked to memecoin activity. This is evidenced by data from the infrastructure provider Syndica, showing that in June 2025, memecoin accounted for 62% of the total revenue from decentralized applications on the Solana network. From January to June 2025, memecoin transactions also contributed significantly to Solana's total network revenue of $1.6 billion, with most of this activity coming from platforms like Pump.fun. Community Opposes Yakovenko's Statement Some figures in the cryptocurrency community have responded to Yakovenko's remarks. A contributor to the Flaunch protocol, identified as "Caps" on X, accused the Solana CEO of criticizing the very users who are driving the development of the network. Another commentator, "Karbon", compared Yakovenko's stance to that of Ethereum co-founder Vitalik Buterin, calling Yakovenko's position as both a promoter and a critic "despicable". The debate takes place against the backdrop of the rival memecoin launch platform LetBonk challenging the dominance of Pump.fun, occasionally surpassing it in daily revenue. The rise of alternative platforms reflects the ongoing demand for applications related to memecoins despite ongoing discussions about their long-term value.