Solana Founder: Memecoins and NFTs Are Digital Trash!!
"I've Been Saying the Same Thing for Years"
Yakovenko stated the following in a post he made on X (formerly Twitter) on July 28:
"I've been saying this for years. Memecoins and NFTs are digital trash and have no intrinsic value."
"A large part of Apple's revenue is also based on loot boxes. But that doesn't mean they are valuable."
The "loot boxes" mentioned here are boxes in mobile games where players earn random rewards. These boxes often encourage users to spend repeatedly and have faced serious regulatory pressure, especially in countries like Germany and Australia, because they do not guarantee content.
Yakovenko's comparison of memecoins to these chance-based game boxes seems to be part of a broader critique questioning user behavior.
He is very right, especially regarding meme coins. But Solana's biggest revenue comes from meme coins. Most meme coins originate from its own network. The market has been exploited by meme coins. The influx of money into large and medium-sized projects has been significantly delayed. Solana is one of my least favorite major altcoins. Its project may be good and promising for the future, but it has brought trouble to the cryptocurrency sector with meme coins.
