The aim of this extension is to replace all normal image only fields by media fields. A "Text + Images" content element becomes a "Text + Media" and you got the same layout options as before.
The idea is to make it as easy as possible for editors to use all kind of media between there written content. So for example normal images like already possible with a default TYPO3 install but also YouTube video links or a presentation hosted on SlideShare. And this with just selecting a existing media item from storage (fileadmin) or by providing a link to the online location which then internally gets transformed to a file (a custom container file) that's get added to you local file system with thumbnail support for previews and extended metadata support.
Currently the project is still on https://github.com/fsaris/fal_online_media_connector but the intention is to rename it and move it to forge.