Yeah, I initially thought it was one of the countless fake currencies (Zynga, SL, etc). This actually does sound cool.
If KATG people want a game, I'd get in eventually (when I have disposable income).
btw, there are a bunch of exchanges, which might make for good summer time wasted trying to trade/arb this.
For people as clueless as I am about this, this seems to be a decent in-depth intro:
YouTube - Security Now 287: BitCoin CryptoCurrency