Is there any alt coins backed by a physical redeemable product ,

[CSTOKEN]

i know its probably a strange question 

just wondering is any crypto coin or token actually backed by anything physical that can be redeemed .  

[X-ray]

i know its probably a strange question  

just wondering is any crypto coin or token actually backed by anything physical that can be redeemed .  

Only petrocoin petro coin backed with oil. But there will be petro oro backed by gold. But as far as i know at this time there is no crypto that has been backed by a physical thing like oil and gold. I remember there were some projects had been trying to create such coin but they all failed.
Petro is government crypto from venezuela. But redemeed means you can exchange that coin just like a voucher i suppose and is that true?

[CSTOKEN]

HI
yes i heard about the petro , will be interesting to see how the project goes for sure.

i was wondering why someone never bought out a actual product backed token such as 1 gram of redeemable gold for example .  that can be redeemed for a token, 

[IrishRover]

You can join the discussion on gold backed cryptocurrencies in this thread: https://bitcointalk.org/index.php?topic=3116070.new#new