Web Open Font Format backed by Mozilla, type foundries (ars technica)

The Open Font Library is a good project, but so far it's been better at collecting hobbyist fonts and convincing their authors to re-license than at creating the kind of wide-unicode fonts needed to support minority groups.

Also Firefox has an huge public footprint (which is being used for woff right now), and some of this influence (in the form of public referals for example) would be worth a lot to many font projects.