What is the Crazy 8's World Series of Poker Tournament?

Someone who buys into the $888 888poker Crazy 8's Tournament will win a World Series of Poker bracelet and $888,888. Is this another 10 handed huge field event? What makes this event different than the Colossus, Millionaire Maker, $365 GIANT, and other big field World Series of Poker events? This is the third year the World Series of Poker has held this successful event.