Anatoly Yakovenko, a co-founder of Solana, has ignited a community-wide discussion by comparing the function of meme coins to loot boxes in mobile games. The comments came during a social media exchange that highlights a growing debate within the cryptocurrency industry about token utility and value.

A Debate on Intrinsic Value

During a public conversation with Base creator Jesse Pollak, Yakovenko expressed his view that both meme coins and Non-Fungible Tokens (NFTs) lack intrinsic value. His perspective drew varied reactions from the crypto community, touching on the ongoing conversation about what constitutes genuine value creation on a blockchain.

Despite his philosophical stance, Yakovenko acknowledged the undeniable impact of meme coin activity on Solana’s recent expansion. This sector has become a powerful engine for the network’s growth and user engagement.

The Financial Reality of Meme Coins

The numbers underscore the financial significance of this trend for Solana. In June, meme coins were responsible for an all-time high of 62% of the revenue generated by decentralized applications (DApps) on the network. This activity was a primary driver behind the $1.6 billion in revenue the network earned in the first half of 2025.

Platforms such as Pump.fun and PumpSwap continue to be major sources of this revenue, with newer competitors like LetsBonk also emerging. The discussion sparked by Yakovenko’s comments reflects the complex relationship between speculative assets and the foundational growth of blockchain ecosystems.