The ESP8266 from Espressif is already powering a huge array of great projects. For example the Huzzah boards from Adafruit are really great WiFi enabled development boards. Now Espressif is bringing the ESP32 to the market.
The ESP32 looks like a very promising follow up to the ESP8266. Having both WiFi, Bluetooth (BLE & classic) and a nice microcontroller in a single low power package opens the door to many IoT projects. I really hope that support for the new chip will be added to the Arduino IDE and the companies like Adafruit will bring us new boards (feathers?) in a close future.