The WOFF font format has been submitted to W3C. WOFF is a wrapper around TrueType/OpenType/Open Font Format fonts, and represents an an emerging consensus on font formats for the Web, supported by browser vendors and by a significant number of type foundries. The submission to W3C was made by three W3C members (all browser vendors): Microsoft, Mozilla, and Opera, and the specification was written by Jonathan Kew (Mozilla), Tal Leming (Type Supply), and Erik van Blokland (LettError).

The W3C has already chartered a working group to standardize the WOFF format (and representatives of browser vendors and foundries are participating), and this submission allows the technical work of that group to get started.

The current draft of WOFF is supported in Firefox 3.6.

See Sylvain Galineau's post on the IEBlog about this for a few more details and another perspective.