AVIF is a modern image file format specification for storing images or image sequences compressed with AV1 in the HEIF container format. It offers significant file size reduction compared to JPEG, PNG, and WebP.
Technical Specifications
Uses AV1 compression. Supports HDR, 10/12-bit color, lossless and lossy compression.
Advantages
Best-in-class compression, open source, royalty-free, supports HDR.
Disadvantages
Slower encoding speed, decoding hardware support is still growing.