This is not a waste backed crypto token. This is a P2P decentralized electricity market token. You can also make electricity out of waste with Anaerobic Digestion. Waste is an unlimited renewable resource.
Sounds very interesting, what if that token will become junk in the future? because I saw a lot of tokens that were initially good then later they became junk so that they didn't have any value in the market, concepts and support were necessary, but real use cases and lots of interest in a token were far more important.
That is the risk assessment each one have to do by themselves. Don't listen to others, but EWT cuts off power plants as middle men and makes the energy market decentralized. This is a huge innovation towards decentralized electricity, which liberates the energy market to free competition.