Initially announced at Build 2017, OneDrive placeholders are back. With a different name, OneDrive Files On-Demand is rolling out to Windows Insiders in the Fast ring who are on Build 16215.
With this feature, you can access all your files in the cloud without having to download them and use storage space on your device.
This feature is currently rolling out forWindows Insider in the Fast Ring and it will be available for the public with the Windows 10 Fall Creators Update this September.
Offical Note:
With Files On-Demand, you can access all your files in the cloud without having to download them and use storage space on your device. All your files—even online-only files—can be seen in File Explorer and work just like every other file on your device. You’ll be able to open online-only files from within any desktop or Windows Store apps using the Windows file picker. And you’re covered in both your home and professional life since it works with your personal and work OneDrive, as well as your SharePoint Online team sites.