Solana Labs CEO Anatoly Yakovenko is once again at the center of a heated debate. This time for branding meme coins and NFTs as “digital slop” in a public back-and-forth with Base creator Jesse Pollak.
The discussion, which unfolded on X over the weekend, revolved around the perceived value of meme coins and NFTs.
Yakovenko maintained his stance that these assets hold no intrinsic value and compared them to loot boxes found in free-to-play mobile games. His tweet said,
“I’ve said this for years. Memecoins and NFTs are digital slop.”
Pollak, however, disagreed and said that the cultural and artistic substance behind NFTs gives them inherent worth. He argued that it is similar to fine art, which holds value regardless of monetization.
“The content itself is valuable.”
“If not for meme coins, nobody would bother using Solana,” one X user shot back. Others accused him of undermining the very sectors that revived Solana after its post-FTX slump. Flaunch contributor “Caps” also criticized Yakovenko for dismissing creators and traders alike.
Still, a few came to his defense. The co-founder of NFT collection Space Riders acknowledged the criticism but saw credibility in Yakovenko’s perspective. “I don’t think he’s entirely wrong. If people enjoy digital slop, they’ll keep buying it. That’s the point,” he added.
It is important to note that meme coins and NFTs remain deeply embedded in Solana’s success story.
According to a recent report by Syndica, meme coin DApps now account for a record-breaking 62% of Solana’s monthly DApp revenue, with Pump.fun leading the charge. The protocol just marked one year as the network’s highest earner, after transforming from a simple meme coin launcher into a revenue-sharing exchange.
Pump.fun’s ambitions are growing, too, as it’s now setting its sights on competing with social media giants like TikTok and Twitch.
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