Open Cobalt is a free and open source virtual world browser and construction toolkit application for accessing, creating, publishing, and hyperlinking avatar-based multi-user virtual worlds that are accessible both on local area networks or across the Internet. It leverages peer-based messaging to eliminate the need for virtual world servers/commercial services and makes it very simple for end-users to create and securely share deeply collaborative virtual worlds that run on all major software operating systems.

Cobalt project is still in alpha stage and is funded by Duke University and National Science Foundation.

I would like to demo to the interested people on what Cobalt looks like and in what direction it is headed. Those interested can also become project contributors.

Fore more info about Cobalt at
http://www.opencobalt.org
http://en.wikipedia.org/wiki/Open_Cobalt