Solana Co-founder Criticizes Meme Coins and NFTs Despite Revenue Dependence

The co-founder of the leading blockchain platform Solana, Anatoly Yakovenko, has once again issued a sharp critique, describing meme coins and NFTs as 'digital trash' with no intrinsic value. This statement was made during a discussion with Jesse Pollack, the creator of the Base platform. Despite his criticism, Yakovenko acknowledged that meme coins have been a primary driver of Solana's popularity, accounting for over 60% of the revenue from decentralized applications within the network. Yakovenko compared meme coins to 'loot boxes' in mobile games, suggesting that their value is purely market-driven. Pollack, however, pointed out the importance of content as a key factor in determining value. Notably, in the first half of 2025, Solana's revenue from decentralized services reached $1.6 billion, with the majority derived from meme coins. By June, their share in revenue hit a record-high of 62%. Despite some dissatisfaction with certain aspects of meme coins, they have undoubtedly played a significant role in Solana's success. As history shows, even leading companies face similar challenges and market shifts.