The Register has the article Intel touts 'MP3 for 3D' universal graphics format
In the first line it mentions that Microsoft, along with 30 other companies, are co-operating in the standard.
Not to long ago there was a push for Microsoft to adopt open file formats for their office suite. They naturally didn't follow through. Their reason is they have a virtual monopoly in office suites - despite very viable alternatives. If they adopted an open file format then that would, in their mind, strengthen the competitors and weaken customer lock-in.
Their motive for advocating an open 3D graphic format is that they have no stake in the 3D imaging market. If an open format is adopted then that gives them a leg up on taking over the 3D image market.
The interesting thing is how Microsoft "embraced and extended" the SVG format - only to make their own incompatible format WVG. This is in spite of the fact that Microsoft was involved in the specification. I would suspect they will use the same strategy with U3D.
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