Yes, there are Light bulbs base don LEDs that perform very efficiently and look awesome.
LPI has developed 2 novel types of patented remote phosphor light systems: transmissive and reflective. Both typically consist of several blue LEDs that excites a remote phosphor shaped in the form of a ball. LED and phosphor are connected by optics that contain a blue-pass filter. This filter lets the blue light through to illuminate the phosphor but reflects yellow light emitted from the phosphor, preventing it from going back to the lower-reflectivity LED, thereby increasing efficiency.