Just to add a little info on some (free) model formats I’ve used with Unity…
3MF (3D Manufacturing Format) is an open-source 3D object format developed by the 3MF consortium, which was founded by Microsoft. A 3MF model is basically XML files and textures packed into a zip file with a “3mf” extension. Some good features of it are that it is “human-readable” and you can edit the XML files that make up the model in any text editor, as you can with Wavefront OBJ, Collada DAE and ASCII FBX files, but 3MF can also contain multiple objects (a 3D scene for example) that are not “attached” so you could load or reference individual objects separately if needed.
GLTF (GL Transmission Format) is a royalty-free model format developed by the Khronos Group Inc. It is quickly gaining support and following among 3D artists and software platforms because of it’s efficient modern method of transmitting model data. Instead of XML, the GLTF format uses the JSON standard. Partly for that reason, it is gaining popularity because of it’s use of java, which is widely used on modern mobile devices and software platforms such as Three.js, Babylon.js, Node.js, and works well with OpenGL which is widely used on mobile devices. GTLF is also now supported by some popular game engines, such as Unity and Godot. Many major companies are currently using the GLTF format to make such things as interactive 3D advertisements embedded in webpages. There is also the GLB format which is the binary version of GLTF and has the extension GLB (and is not “human-readable” in ASCII).
And about the COLLADA DAE format…
DAE (Digital Asset Exchange) was originally developed by Sony Computer Entertainment and later acquired by the Khronos Group. It is also a “free” format (under the SCEA Shared Source License 1.0) and like GLTF, it is XML-based. The current COLLADA standard now supports character skinning, morph targets, rigid body dynamics, kinematics, physics, OpenGL ES materials, and also supports shader effects for multiple shading languages including the Cg programming language, GLSL, and HLSL. It has been around for a lot longer than formats such as GLTF so it has already gained a lot of popularity and support among users and 3D software, API’s, etc…
Also, someone wondered why Autodesk wasn’t interested in making DAE the standard, and the answer is that DAE wasn’t designed to be as “full-featured” or multi-platform compatible as formats like FBX and GLTF, simply because it was created long before the new standards and web-technologies requiring a model format that is more efficient, faster, and supports more advanced features. Autodesk has even joined the development group behind GTLF (3D Formats Working Group), and has started using the GLTF format, along with other major companies like Microsoft, Facebook, etc…
Since this is a Unity forum, I should mention that GLTF and DAE are supported by Unity, but I am not sure about the 3MF format, although it’s simplicity and readability would make it easy to import and export.
*EDIT: I should mention the XPS format (and related ASCII and MESH formats), They feel like a cross between OBJ and FBX, containing skeletal data, but referencing external textures. I especially love ASCII formats because I have noticed that a lot of times most 3D editing software (free and paid) leaves errors in the models when exporting, like including incorrect pathways to the textures, or even including personal information about your computer within the model file, so being able to simply open your model up in Notepad to fix it is very useful.
I have found free code on github to parse an XPS file so I know it’s possible, just haven’t tested it yet.
*I’m not an expert on 3D modelling, I’m more of a programmer, and some of this information might get outdated eventually. Just really some general observations that I’ve noticed that might help someone.
-So which one(s) do I use most? FBX is my go to rigged model type, hands down. I don’t find DAE or GLTF/GLB standardized yet. What I mean is there are differences in the way the format is imported/exported by different 3D software. For example the GLB that you export from one software doesn’t load the same (or at all) in other software. I confirmed that exact problem in both Microsoft 3D Builder and Microsoft 3D Viewer’s exported GLB’s, even though the software is made by the same company, they don’t export GLB’s that are fully “compatible” with each software. DAE’s also have a lot of “variances” in the way the format is written, a common minor problem are flipped UV’s. FBX isn’t open-source, so it’s format tends to stick to the owner’s standard. Some other formats do have benefits sometimes. I also like to use OBJ’s for unrigged models, partly because OBJ’s have some great software for editing (way better than anything modern).