Intel, Adobe, Microsoft and more than 30 other companies are to co-operate in conjuring up a standard for 3D graphics, called the Universal 3D (U3D) format
Similar 3D standards already exist, but Intel and co. argue that none as yet can replace proprietary file formats as both a working data file format, as a data interchange format and with applications such as web streaming and animation in mind. The 3DIF also says it will work to ensure that U3D is extensible, allowing it to take into account new features over time.
Source: TheRegister
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