Here is an ocean scene made with 40 shape keys in Blender :D
The animation loop is not perfect but I am relatively happy with the result. https://www.youtube.com/watch?v=VaDLjF75KLc&feature=youtu.be
STL (Stereolithography, filesize: 3.3 MB), OBJ (OBJ, filesize: 43.2 MB), BLEND (Blender, filesize: 24.4 MB), FBX (Autodesk FBX, filesize: 37 MB), 3DS (3D Studio, filesize: 10.7 MB)