The present disclosure relates to a bone graft material and a bone graft implant formed from the material. In some embodiments, the bone graft implant comprises a porous matrix having a plurality of overlapping and interlocking bioactive glass fibers and a plurality of pores dispersed throughout the matrix, whereby the fibers are characterized by fiber diameters ranging from about 5 nanometers to about 100 micrometers, and the pores are characterized by pore diameters ranging from about 100 nanometers to about 1 millimeter. The implant may be formed into a desired shape for a clinical application. The embodiments may be employed to treat a bone defect. For example, the bone graft material may be wetted and molded into a suitable form for implantation. The implant may then be introduced into a prepared anatomical site.