Adilaris 
A new standard for 3D scenes along the same vain as to what happened with JPEG is being worked out by a standards coalition, The Khronos Group. GL Transmission Format (glTF for short) is aiming to simplify and unify the way 3d content is published to the internet; making it work across almost any device. The end goal is to make the standard as prevelant and impactful as JPEG was upon its initial introduction to the masses.
Khronos is supported by Valve, Oculus Microsoft, Adobe and Amazon. Microsoft, Adobe, Box and OTOY; and is directly supporting the glTF standard in an announcement today, pushing to create industry momentum for the format. Oculus Chief Technology Officer John Carmack said:
“The world has long needed an efficient, usable standard for 3D scenes that sits at the level of common image, audio, video, and text formats. Not an authoring format, or necessarily a format you would use for a hyper optimized platform specific application, but something at home on the internet, capable of being directly created and consumed by many different applications.”
Effectively, this would help create a new extension of the internet, which is currently not very possible using only proprietary standards. The royalty-free glTF specification compacts the sizes of 3D scenes and models while providing the tech industry with a “common publishing format for 3D content tools and services, analogous to the JPEG format for images.
-Adilaris
