Tim Draper Endorses Sustainability Through Web3

On Sep 24, 2024

VeChain (VET) has been tipped to redefine Web3 by converting sustainability to profitability through the involvement of institutional investors.

In a recent discussion with Drapers Associates founder Tim Draper, VeChain’s CEO Sunny Lu disclosed to have spotted similarities in principles concerning the financial productivity of Non-Profit Organizations.

VeChain’s (VET) insatiable quest to redefine the Web3 ecosystem through positive, sustainable practices was the topic of a recent meeting between CEO Sunny Lu and Draper Associates founder Tim Draper.

In the 43-second video shared by VeChain, Sunny Lu disclosed that Draper shares a similar value with his blockchain platform in terms of Non-Profit Organizations (NPOs) aiming for profitability for long-term sustainability. According to him, the Draper Foundation, which exists as an NPO, has one major rule: “Even a non-profit organization should make money and should be profitable.”

Speaking about Web3, the VeChain boss asserted that this space could be the answer to building new business models that focus not only on individual users but also on enterprise users. According to him, the plan has been to build the entire ecosystem in a circle that demands the use of the token as a carrier of value.

Sustainability needs to generate value and investment opportunities – it’s the only path to onboarding institutional investors and driving real change – and @TimDraper agrees.
As told by Sunny, Tim shared his belief that even nonprofits should aim for profitability to ensure… pic.twitter.com/1Z8URTmFTq— VeChain (@vechainofficial) September 19, 2024

More on VeChain (VET) Sustainability

In a separate tweet, VeChain highlighted that sustainability emerges as the essential factor that drives real change and attracts Institutional investors. To push this cause, the blockchain platform has sealed several partnership deals, including the recently reported UFC collaboration to advance the VeBetter ecosystem. To them, this underscores its commitment to advancing sustainability goals using cutting-edge technologies. Drawing insight from that publication, Sunny Lu remarked that the strategic move is part of its steps to use blockchain for impactful activities.

This campaign represents a significant step forward in our mission to leverage blockchain for the greater good. With BCG’s support and UFC’s massive global reach, we are opening doors to users, enterprises, and institutions, helping drive adoption of this new app platform, while creating new financial instruments that solve deeply ingrained challenges.

Delving into this, a VeChain communications lead and community advocate, Jake, explained on X that “sustainability is one of the greatest new economic engines.” To take advantage of this, VeChain has resorted to new technologies to make the transition faster, more reliable, and more transparent. According to Jake, the VeBetter ecosystem is the foundation of new asset classes on which important data is tokenized on-chain.

Given the powerful undercurrents supporting ESG investing, assets could grow to US$14–19 trillion by 2025 and potentially US$20–30 trillion by the end of this decade. Achieving the low-end estimate requires little since it assumes that the share of industry flows captured by ESG remains unchanged. In the high-end forecast, sustainable investments’ share of AUM will grow from 11% today to 28% in 2030. Managers could compete for anywhere between US$6 trillion and US$9 trillion of net new inflows depending on the scenario.

Commenting on VeChain’s native token, VET, an analyst has observed that the asset could imitate the 1,800% surge in 2020 to breach its all-time-high price of $0.27. At press time, VET was trading at $0.023 after declining by 1.17% in the last 24 hours.