The Art for Code website is a place where the artists and code developers can arrange to swap their services for mutual benefit. Artists wanting a new feature in Blender, a new file format import/export plugin, or a rigging script can list their requirements here. Developers wanting art assets for their projects (models, animated cinematics, rigged models, &/or textures) can fulfill these requirements.
This allows for artists and developers to swap their services directly for mutual benefit. Artists (and others) can get the benefit of new / improved features in their applications whereas indie & open source game projects (amongst others) can get artistic assets in return for doing what they are good at - code development.