Basically, there will be 21 million coins, exactly like bitcoin. Except that 10.5 million of those are pre-mined by the dev to split between everyone on Iceland.
That leaves around 100 000 coins in circulation right now for trading. The idea behind it, if it doesn't end up being a scam, is in my opinion quite good even if it's just for an experiment in cryptocurrencies.
Now combine that with the fact that it was added to coinmarketcap.com around friday or thursday. I was there 5 minutes after it was added, at around 3$ a coin. Now imagine if only the coins in circulation were shown, that would have meant that market cap would have been 300 000$ , basically sitting at around #57 on the list, no one would have noticed . It wouldn't have attracted any attention. But since the premine is counted, that put it around 31.5 million $ of market cap and at 7th or 8th place when it started ! This attracted tons of attention and now after like 4 or 5 days on there it's already reached 70$ per coin because of pure and simple hype.
I'd love for this experiment to succeed for sure but chances are that it will go down in value a bit once it's released to the population of Iceland, who knows though!
Get some when you want to go to Iceland on holiday. Otherwise, don't get sucked in by the bright lights. Get some DRK shades instead.