This IS the Avid L2: Re: [Avid-L2] MOX on Indiegogo - An open source movie format for video and film production

Technical Details
MOX is going to use the MXF container (SMPTE 377M) to hold a specific list of open source, patent-free audio and video codecs. Many of the video codecs will actually be embedded frame sequences, allowing frames to be copied in and out of a MOX as if it were a Zip file.
Video formats will be Dirac, OpenEXR, DPX, PNG, and JPEG. The sum total of these codecs means that MOX will be able to store video at 8-, 10-, 12-, and 16-bit integer, as well as 16- and 32-bit floating point. Each bit depth will have both lossless and lossy compression options.
Audio codecs will be FLAC, Opus, and raw PCM to do lossy and lossless audio compression at 8-, 16-, 24-, and 32-bit.
Both audio and video will support any number of channels. Depending on the codec, this means that multiple compressed video streams may be present in a MOX, allowing for alpha channels, Z-depth, stereo views, etc.
MOX will support file-wide and frame-specific metadata. Color space metadata can include ICC profiles, named color spaces like Rec. 709, gamma & chromaticityvalues, OpenColorIO configuration information, and embedded LUTs. MOX will clearly differentiate between importing pixels in their native format and viewingpixels, which may involve a display transform.
The open source library and plug-ins will be programmed in C++, hosted on GitHub, and available under the permissive BSD license, allowing commercial and non-commercial software programs to use them freely.