glTF is an up and coming format for transmitting 3D models, tailored for WebGL and OpenGL they like to think of it as a 3D model codec. There's three.js and Node.js support, as well as a COLLADA and separate FBX converter. There's more explanation of glTF in the presentation at the WebGL BOF. Compression progress here, discussion here. Special thanks to Patrick Cozzi and the folks over at Real-Time Rendering Blog.