Just a moment...

Solana co-founder Anatoly Yakovenko said memecoins and NFTs are "digital slop" with no intrinsic value, comparing them to loot boxes in free-to-play mobile games, in an X post on Sunday. The comment came during a debate with Base creator Jesse Pollak, who argued that the content itself is valuable, much as a painting is. Yakovenko acknowledged that Solana would not be where it is without memecoins, but claimed Apple's revenues would also be negligible without loot boxes. Syndica reported that memecoins accounted for 62% of Solana network's decentralized app revenue in June, a new all-time high.