Thor – A Project to Hammer Out a Royalty Free Video Codec
Actually, I'm still rooting for Daala (from Xiph.org, the same folks that did so well with Opus). It's still a long ways away from being finished, but their work is awesome and I've been following it for a while now!<p>Either way, having another effort competing to make a great format is not a problem. Here's hoping it goes well!