It’s called TidyTlt , it will be offered in several colors and it deliberately has no reference to the original Apple product, in order to avoid suspicions.
It seems that the idea is to protect the back of the iPhone , i.e. the opposite side of the screen, rather than how the original smartcover on the iPad does, to provide coverage for the screen and allow it to be easily locked by covering it with the cover. In this concept, the screen is free and protect the back, while maintaining the possibility of putting the iPhone in various positions with the case folded and that the case gives us the support where the terminal is supported.
As I said at the beginning of the project there is no official price or availability , it seems that there are already enough people interested in the project and that it could come out next February, but there is nothing sure, if you want to get one of these cases, they offer the possibility to donate from 19 dollars (plus 10 dollars more for international shipping) and be one of the first early adopters .