So basically, this stuff is called Zoa, and the company who makes it, Modern Meadows, claims that it's the world’s first biofabricated leather. The general idea is that it's grown in a lab instead of harvested from the skin of animals. Seems pretty cool to me since I love the feel and durability of real leather, but really hate the fact that animals have to die for it to be made. I've always hoped that real leather was more of a byproduct of the meat industry, and was therefore less wasteful and therefore not so bad, but I think we all know how terrible said meat industry can be at this point. So as we move away from traditional 'meat' with things like the Impossible Burger, it's only right that we find ways to avoid using the animal's skin as well.
Aside from the fact that this has a lot of potential to be better for the environment, it seems like it can also allow for some new creative freedoms. Apparently, it's able to be grown to hold just about any shape, as well as be virtually any density that you want. It will be interesting to see what kind of new creations can be made with this futuristic material.
Check out their website for more detailed information on the project.