Recent video world models have increasingly adopted 3D memory mechanisms to integrate historical observations into a lightweight and persistent scene representation. This naturally raises a complementary question: if 3D representations can serve as an effective mechanism for memorizing observed scenes, can they also be directly used as the latent space for reconstructing and generating scenes? Motivated by this idea, we represent a scene as a compact and unstructured 3D-anchored latent space (\textbf{SceneAE}). Each latent combines an explicit 3D position with an implicit content feature and is spatially grounded to describe its local scene region, forming a sparse latent point cloud. Unlike conventional video-VAE latents that describe how a scene appears from particular viewpoints, our representation directly describes the scene itself, making it naturally applicable to both reconstruction and generation. For reconstruction, once the scene has been generated, our persistent 3D representation can be projected and decoded into RGB-D observations by different target cameras, without the need to regenerate a video for each new camera trajectory. For generation, we leverage the geometry-content separation to first generate camera-controlled 3D geometry and then synthesize content conditioned on it, reducing camera-appearance entanglement and improving camera controllability. Experiments show that this 3D latent achieves superior generation quality, computational cost, and camera controllability.

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