I heard about the Encyclopedia of Life (EOL) through an appearance by E.O. Wilson in Seattle last year. EOL launched in February, but I'm just now getting caught up with it. This site is a world-wide collaborative effort to document all of the species of life on Earth. Everyone from established institutions to dedicated individuals are encouraged to contribute.
The overall goal of the site is to "Increase our collective understanding of life on Earth, and safeguard the richest possible spectrum of biodiversity." Biodiversity is a critical element of long-term survival of humans on Earth.
More on this as I learn about it, but it's pretty cool that anyone can research and learn about all the known species of life on the planet. I think in February the site launched with 30,000 listings. For now, enjoy this small image of Nelson's Anchovy.