It looks like you have some type of small Encyclia, perhaps Encyclia tampensis? If so, go to the AOS website (
www.aos.org) and download a culture sheet on Cattleya culture as Encyclia culture is similar.
You do have a seed pod. It looks like it is fairly advanced in its development. If you leave it, it will mature and split and release thousands of dust-like seeds into the air. In nature usually only a small number out of tens of thousands of seeds survive to adulthood. In cultivation, orchids grown from seed are done so in controlled sterile labratory conditions. We call this process "flasking" because the tiny orchid seeds are grown in labratory flasks. If you wanted to, you could do a little bit of research and locate someone to flask the seeds for you. They would give you instructions when to harvest the pod and send it to them. some flaskers charge a fee, others make 3-4 flasks more than you request and sell the others off to cover their costs.
One small hitch in this is that people usually like to know what the other parent is. Does the friend who gave you this orchid have other Orchids?
Cheers