Solana’s co-founder calls memecoins “digital slop”

Solana co-founder Anatoly Yakovenko recently described memecoins and NFTs as “digital slop” in an X post, despite their significant contribution to Solana’s revenue.

Yakovenko stated on Sunday that memecoins and NFTs possess “no intrinsic value,” likening them to loot boxes in free-to-play mobile games. This comment initiated a debate with Base creator Jesse Pollak concerning the fundamental value of these digital assets.

I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value. Like a mobile game loot box. People spend $150b a year on mobile gaming.

— toly