You can store the ore you’ve farmed in it, and it won’t disappear if you die. This is useful if you’ve returned to a campfire but don’t want to head all the way to the forge.
Ahhhh right, I expected the backpack to be on my back anbd that when I die, the backpack with the ore is transported back there or something. Wasn't aware that I deliberately have to store it in there. Makes it less useful, but it does save a trip to the forge indeed.
