I like the idea of precious metal backed crypto, however, it is much better to physically hold your gold and silver. As @troglodactyl said in his comment just a moment ago, backing crypto with gold/silver introduces risk, i.e. 3rd party risk. I've decided to remove as much 3rd party risk from my investments, so I'm investing in physical gold/silver and decentralized cryptos. Gold/silver backed crypto, unfortunately, do not fall into that category.