^ Not James, in case anyone had any doubt.

Heres the official ICO thread:
https://bitcointalk.org/index.php?topic=762346.0

And heres my summary of what SuperNET is all about:

Co-operation between crypto-currencies !

The ICO is gonna (has already) pull in a shit load of NXT, BTC and BTCD in exchange for a tradeable token issued on the NXT Asset Exchange.
Most of the funds will be held in escrow and traded conservatively to act as a volatility buffer.
5% will go to NXT dev fund, 5% to BTCD dev, with the option to actually hire in extra devs for both.
Other coin systems can/will join in, and all of the participating coins will be listed on the NXT-based multi-gateway system, allowing trustless (and almost costless) trading between coins on the system.
This will further reduce volatility for currencies in the SuperNET, and will allow all coins in the system to use the features of other coins in SuperNET.

For example: if DOGE came in, and when BTCD completes its Teleport feature, you will be able to anonymise your DOGE by converting it into BTCD, Teleporting it using BTCD, then converting back to DOGE.
Result: anonymised DOGE!

There will be a SuperNet wallet (I think based on the BTCD wallet) that will allow control of all of your SuperNET funds from a single interface.
Knowing James, there are probably a shitload of extra features coming up.....but that is the basic plan as I understand it.