the co-founder ignites the debate on real value
“Memecoin and NFT are digital waste,” stated Anatoly Yakovenko, co-founder of Solana, sparking a new wave of controversy in the crypto world on June 12, 2025. No major blockchain like Solana had ever seen such an explosive statement from its creator just as the revenues from meme coins reach a new all-time high.
What does Yakovenko really say about memecoin and NFT?
In a heated discussion with Jesse Pollak from Base, Yakovenko reiterated a position that – according to him – he has supported for years: “memecoin and NFT are digital dross and have no intrinsic value.” According to the founder, these digital assets resemble the loot box of free mobile games, genuine virtual rewards that can be purchased without any guarantee of obtaining anything of value.
L’ho detto per anni. I memecoin e gli NFT sono spazzatura digitale e non hanno valore intrinseco. Come una loot box di un gioco mobile. Le persone spendono $150 miliardi all’anno nei giochi mobili.
— toly 🇺🇸 (@aeyakovenko) 27 luglio 2025
His position is clear: “Not like works of art, which have a fundamental value regardless of the market,” thus responding to Pollak’s analogy on the perceived value of a painting that can be admired even without paying the museum ticket.
The paradox: record revenue for Solana thanks to memecoin
The most sensational part? Solana wouldn’t be where it is today without memecoin. Yakovenko himself admitted it, providing new data as evidence: according to Syndica, in June 2025, 62% of the revenue generated by dApps on the network comes precisely from memecoin. This is the highest value ever reached, an absolute record that challenges the rhetoric of the “digital slag.”
The economic impact is undeniable, but the judgment on NFT and memecoin remains harsh. However, the question remains: “If these assets are worth nothing, why does the blockchain primarily rely on them?”
Why is the Solana community in revolt?
Caps, a contributor to Flaunch, harshly criticized Yakovenko’s attitude, accusing him of “mocking” his own user base after promoting memecoins. The dissent extended to many other members of the community and industry analysts, who find it ambiguous to condemn memecoins while celebrating their importance in financial results.
prendere in giro i tuoi utenti E pubblicare un’opinione terribile
non è stata la settimana migliore per solana https://t.co/XoWNm6Rr2q
— Caps (@0xCaps) 27 luglio 2025
On Twitter, critical comments have multiplied, focusing both on the words used by the co-founder and on the blockchain strategy. “How can growth be pushed on assets defined as having no intrinsic value?” many users ask.
How do Pump.fun and LetBonk impact the Solana ecosystem?
Behind the boom in revenue are the launch and swap platforms for memecoins, led by Pump.fun and the new competitor LetBonk. These platforms operate as decentralized aggregators and allow for the rapid launch and exchange of new tokens. In the data from June 2025, LetBonk surpassed Pump.fun on some days for daily revenue, stealing the spotlight from the famous aggregator.
As a result, the entire memecoin sector has established itself as a central pivot point for the blockchain, redefining the priorities and vocation of Solana. The approach of the two platforms fuels both innovation and speculative risk, as the rapid launch of new tokens enhances volatility and can evoke practices similar to video game loot boxes.
Loot box, regulation and risk: why is the comparison strong?
The “loot box” are typical mechanisms of free-to-play games in which virtual rewards of a completely random nature are paid for. In various countries, they have raised alarm among regulators due to the lack of transparency and the practices of psychological exploitation, themes that Yakovenko has implicitly associated with memecoin and NFT.
The community fears that such a comparison risks fueling new regulatory interventions or damaging the confidence of more institutional investors. The uncertainty about how the market and the authorities will react is higher than ever.
What happens now in the Solana ecosystem?
The impact of Yakovenko’s statements is felt on multiple fronts: they fuel the discussion on the real value of NFT and memecoin, divide the community, and put pressure on key platforms. In the short term, the revenues continue to record record numbers, but the question about the future remains open.
The real issue will be how Solana will manage to balance technical innovation and financial sustainability. Trust in new memecoins can generate rapid growth, but it risks leaving the ecosystem exposed to speculative bubbles and a fragile reputation. “Everything can change in the coming weeks,” especially if regulatory pressure increases or if the community demands substantial shifts.