glTF or glb in his binary version is in his version 2.0 a new open source file format that allow you to export your game asset with his lods and animations like the FBX, but it has also the advantage of being open sourced so it can be easily implemented, it supports the Disney's Principled PBR and it be packed with your textures and materials and will automatically append and plug your textures, so you will get the exact same result across all applications. Here are the 3 versions that exist: glb: the most interesting, this is the binary version, it is lightweight and directly readable by the GPU, it includes your PBR node materials, textures, LODs, animations glTF embedded: includes everything but it is a text file glTF + separated textures: the maps are exported separately but they are still appended automatically to your material(s) Godot 3.0 uses it by default and explain why it should be the industry standard and the issues with FBX: https://godotengine.org/article/we-should-all-use-gltf-20-export-3d-assets-game-engines The Khonos Group gives also informations about this file format: https://www.khronos.org/gltf This file format is available on GitHub for Unity users: https://github.com/KhronosGroup/UnityGLTF But for Unity users it's a bit complicated for an average user to compile it and can be unstable. Since the bad news about the collaboration between the closed Autodesk FBX and Unity, Autodesk will be able to impose their own specifications, closed technologies in the game art workflow and even delay the compatibly with alternative file formats. This will still be undocumented and the sources closed for other 3D modeling software in order to make it discouraging to develop and continues to break (it's the goal of Autodesk to sell more Maya LT). Also the license isn't compatible with some Open Source projects. We need an open format for game art, easy to integrate in a modeling, painting and game engine this has been asked for many years. Collada wasn't built for that but now the Khronos Group has made a new format open and dedicated for PBR games.