The FASER experiment is a new small and inexpensive experiment that will be placed 480 meters downstream of the ATLAS experiment at the CERN LHC. The experiment will shed light on currently unexplored phenomena, having the potential to make a revolutionary discovery. FASER is designed to capture decays of exotic particles, produced in the very forward region, out of the ATLAS detector acceptance. FASERnu, a newly proposed FASER sub-detector, is designed to detect collider neutrinos for the first time and study their properties. This talk will present the physics prospects, the detector design, and the construction progress of FASER. The experiment is expected to be installed during LS2 and to take data during the LHC Run-3.