Very interesting. I am amazed that no one has decided to do the same for silver considering how under valued it currently is.
Marrying crypto and precious metals makes perfect sense.

Both gold and silver have been heavily suppressed/manipulated since 2011 by the derivatives market. (Deutschebank has admitted this in court and implicated other banks in this market rigging.)
Once the derivatives market for gold and silver are broken, which could be caused by various things such as China adopting a gold backed Yuan, then gold and silver will rapidly increase in price when the market can freely decide their price.
I will certainly look into this crypto. Thank you for the heads up.