Serial entrepreneur Scott Melker who goes by the name of The Wolf of All Streets is investing in a blockchain-based startup Elitium that promotes luxury and has a digital token called EUM, the companies announced today. The exact amount of the investment is not specified, but Canadian merchant bank Global Digital Assets (GDA Capital) is Melker’s co-investor on the project.
Elitium says it is launching a suite of wealth management tools next quarter that feature “interest-bearing products, access to tokenized commodities and other assets, and direct investment into digital currencies, all through one convenient dashboard.”
“Assets such as luxury collectibles and real estate have performed extremely well in 2020, making asset owners wealthier while many people are struggling to get by. Elitium’s tokenization platform makes these asset investment opportunities available to a much wider audience, and it’s only one of many exciting features,” Melker said in a statement.
GDA Capital, which is a capital markets arm of the GDA Group, has been working with Elitium on a number of initiatives, the partners said. The company’s goal is to help create Elitum’s own “network of investors, users, advocates, and asset issuers” said GDA Capital’s co-founder Michael Gord.
GDA Capital says it will become the sponsor firm for the “asset offering part of the Elitium platform.” The duties will include due diligence on potential asset listing on the Elitium platform and an other listing-related functions.
“We have had a lot of synergy with the GDA Group and are already working on a number of initiatives in blockchain and with digital currencies. With this new capital infusion, we aim to expand Elitium globally in the most efficient way,” stated Elitium Founder and CEO Raoul Milhado. He describes Elitium as a next-gen wealth management app that helps people “discover a life of independence, value, and growth.” Scott Melker is a well-established crypto advocate and an early adopter, and a DJ. He hosts the Wolf of All Streets Podcast and is the author of The Wolf Den newsletter that helps to educate people on crypto.