1994 – The Fraunhofer Institute for Integrated Circuits (IIS) released I3enc – otherwise known at MP3. This is also known as MPEG-3. The MP3 moniker did not get chosen until July 14, 1995 (it was .bit before .mp3). MP3 is still licensed to Fraunhofer Institute – therefore, you must pay a license fee to use the popular .mp3 format. There is an open source format .ogg vorbis. Full Day in Tech History podcast show notes for July 7 PSOne is released TI-99/4a is demonstrated on the Mike Douglas Show A Legal version of Scrabble hits Facebook