Kinda sorta. The Virtual Reality Modelling Language (VRML) is a
standard file format for 3d graphics. It is intended for display of
3d objects over the Web. It was based on SGI's Open Inventor file
format, which many people in the VRML group thought had good
characteristics for the project.
All this does is standardize the 3d graphics. It says nothing about
interactivity or object behavior, and IMHO, it never will. These
domains are way too much on the frontier for anyone to be able to
standardize at this point in time.
Folks in sci.virtual-worlds have talked about the need to define some
"standard" aspects of VR, but so far no efforts are forthcoming. To
be successful, a VR standard would have to be backed by several major
industry players with a lot of clout. Who knows, maybe behind the
scenes these companies are making such deals even as we speak, but
don't hold your breath.
Cheers,
Brandon