To answer the most basic questions...
The Nube (new-bay), is an integrated water barrier/insect shield/gear storage hammock shelter.
The shaped, closed end, water-proof tarp supports a sewn in bug net and gear storage pouch.
The price for a Nube is $275.
Here's a description and the specs taken from the website, wwwsierramadreresearch.com:
What is the Nubé?
The Nubé (new-bay) is more than just a hammock shelter, it’s a safe haven for you and your gear wherever you are. With it’s patent pending 3 in 1 system the Nubé is the most complete hammock shelter ever produced. The Nubé protects you from torrential down pours, pesky insects, and keeps your gear elevated and protected, allowing you to freely venture in comfort. The Nubé is designed to be compatible with any camping hammock, so now we can all enjoy complete elevated protection!
Specifications (approximate dimensions and weights may change slightly with production):
Length: 13 ft (3.96 m)
Set-Up Width (center): (min) 7.5 ft (2.28 m) / (max) 10.0 ft (3.04 m)
Nubé Weight (no stakes): 2 lbs (0.90 kg)
Total Weight (with stakes): 2.24 lbs (1.01 kg)
Packed Size: 10 in x 6 in x 6 in (25.4 cm x 15.25 cm x 15.25 cm)
Water Barrier Fabric: 40 Denier Nylon Rip Stop with 2 coats of silicone on the top and bottom of the fabric.
Insect Shield: No-Seeum Polyester Mesh fabric
Gear Storage: 70 Denier Nylon Rip Stop with a PU coating of 1200mm
Nubé Stake Length: 7 in (18cm)