Hi aTriz,
It is based off the alphabet numbers on the dial pad, which are standard on all telephones and mobile phone (ios, droid, etc.) dial pads. This alphabet display standard goes back decades. Every number expect for "1" has three letters assigned to it.
For example see this image:
So literally the dial sequence to connect to this number (without entering +1 if domestic) is: 3-2-3(E)-8(T)-4(H)-3(E)-7(R)-3(E)-8(U)-6(M)
Therefore in essence, the only information you need to provide someone to call this number is, hey, dial or shoot me a text at: 32-ETHEREUM
International you would need to add the +1-32-ETHEREUM and anyone could connect. It is a very rare sequence that was not in use, and the 32 is a nice touch.
Transfer is easy I have this parked at numberbarn.com (cost me $2/mo to park there) and any wireless carrier can accept it for service by using a number port process to their respective customer. (not sure the technical specifics of it).
Hope that explains it! Due to the fact it is one-of-a-kind, fun, and nerdy, its easily worth 32ETH to the right Ethereum fan or business.