Google has released Draco, an open source compression library to improve the storage and transmission of 3D graphics.
From the announcement:
Draco can be used to compress meshes and point-cloud data. It also supports compressing points, connectivity information, texture coordinates, color information, normals and any other generic attributes associated with geometry.
With Draco, applications using 3D graphics can be significantly smaller without compromising visual fidelity. For users this means apps can now be downloaded faster, 3D graphics in the browser can load quicker, and VR and AR scenes can now be transmitted with a fraction of the bandwidth, rendered quickly and look fantastic.