Remarkable statements came from Solana (SOL) co-founder Anatoly Yakovenko, known for his sharp and bold statements in the cryptocurrency market.
In a post from his X account, Yakovenko explicitly described memecoins and NFTs as “digital trash” with no intrinsic value.
The celebrity likened memecoins and NFTs to loot boxes found in free-to-play mobile games.
Yakovenko argues that while memecoins and NFTs are extremely popular and financially lucrative, they lack underlying purpose and value.
“I've been saying this for years. Memecoins and NFTs are digital garbage and have no intrinsic value.
“It's like a mobile game loot box. People spend $150 billion a year on mobile games.”
Although the celebrity calls memecoins trash, he admits that they have significantly contributed to Solana’s growth.
According to Solana-focused infrastructure firm Syndica, memecoins reached an all-time high in June, accounting for 62% of the Solana network's decentralized application revenue.
*This is not investment advice.
