Memecoins and NFTs Face Harsh Reality Check from Their Creator: ‘Zero Intrinsic Value’ Exposed

The architect behind some of crypto's most viral assets just dropped a truth bomb—and it's exploding portfolios.

From hype to hypocrisy

The same minds that coded these digital assets now call them 'financial mirages.' Memecoins? NFTs? Pure speculation wrapped in blockchain packaging—zero utility, zero fundamentals, just greater-fool theory in a JPEG.

The irony stings harder than a rug pull

Turns out, even their creators won't defend the value proposition. 'It’s all narrative,' admits one anonymous developer. 'You’re buying the dream of a dream.'

Wall Street’s shadow laughs last

Traditional finance vultures circle as crypto’s carnival barkers eat their own. Bonus jab: At least fiat currency comes with FDIC insurance—your bored ape won’t.

Memecoins Face Harsh Words

Yakovenko said he’s held this view since at least January 2024. He argued that the price people pay is all that gives these tokens any worth.

Pollak shot back, saying that the content itself—like a painting hanging in a museum—carries its own value, no matter what you charge to see it.

The debate has put a spotlight on how far Solana’s growth relies on the very things its leader dismisses.

I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value. Like a mobile game loot box. People spend $150b a year on mobile gaming.

— toly(@aeyakovenko) July 27, 2025

Solana Revenue Tied To ‘Slop’

According to Solana‑focused infrastructure firm Syndica, memecoins made up 62% of the network’s decentralized app revenue in June. That figure helped push Solana’s take to about $1.6 billion in the first half of 2025.

Big chunks of that money came from Pump.fun’s launchpad and PumpSwap’s DEX aggregator. Yet Yakovenko said Apple’s loot boxes drive revenue for the App Store in much the same way—profitable but seen by many as exploitative.

the content itself is valuable. ads are a way to monetize that value. but the content itself is valuable. just like a painting is fundamentally valuable, regardless of whether you charge people at the museum to see it.

— jesse.base.eth (@jessepollak) July 27, 2025

Critics have been quick to call him out. X user “Caps,” who writes for Flaunch, accused Yakovenko of mocking his own user base.

Another commentator, Karbon, said he finds this stance “distasteful,” pointing out that Yakovenko promotes memecoins all the time, even while claiming they’re worthless.

The clash has fans and skeptics debating whether it’s fair to scorn a market that’s so clearly feeding Solana’s growth.

Meanwhile, a rival memecoin launchpad called LetBonk has been eating into Pump.fun’s lead. At various points, LetBonk even topped Pump.fun in 24‑hour revenue.

This shows that users are ready to chase the next big token wherever it pops up. For Solana, it means more money in the short run but also more risk of instability if the HYPE shifts elsewhere.

Featured image from iDrop News, chart from TradingView