The lens measures in at a mere 60 nanometers thick, so for all intents and purposes it's almost just a 2D object. (But not quite.) It's made by plating a thin wafer of silicon with a layer of gold that's then etched away to create a series of V-shaped structures across its surface. When light hits these structures it's slowed ever so slightly which changes its direction—like the glass in a traditional lens does. And by carefully tuning the angle, size, and spacing of these V-shaped structures across the surface of the lens, it can capture wide-angle or telephoto images without the distortion that's seen from something like a traditional fish-eye lens.
Mirrorless swappable lens cameras have already taken a bite out of the DSLR's market share, but if and when this technology hits the market it could serve as a death blow to the heavy bulky cameras preferred by professional photographers. More here.