The -homotopy category is an analog of the ordinary homotopy category of the category Top with topological spaces replaced by ∞-stacks over certain schemes.
It is a special case of the homotopy theory induced form any sufficiently well-behaved interval object in a site on the ∞-stacks on , for the case that is the category of smooth schemes over a Noetherian scheme and
is the standard affine line in .
One example of -homotopy theory appears in motivic cohomology. See there for more details.
-homotopy theory sheds light on (and was at least partially motivated by) the proof of the Bloch-Kato conjecture?.
There is an analog of -homotopy theory for other geometries. The extra left adjoint on an cohesive (infinity,1)-topos may realize the localization at an abstract continuum line object. See at cohesion for more details.
Fabien Morel, An introduction to homotopy theory, ICTP Trieste July 2002 (directory, pdf, ps).
Fabien Morel, Vladimir Voevodsky, -homotopy theory of schemes K-theory, 0305 (web pdf)
For more on the general procedure see homotopy localization.
Discussion related to étale homotopy is in