AVIF (AV1 Image File Format) was developed by the Alliance for Open Media (AOMedia) based on the next-generation AV1 video codec. WebP, developed by Google, is based on VP8 video coding. AVIF represents the state-of-the-art in lossy image compression, delivering superior HDR color and smaller file sizes at low bitrates, while WebP offers faster encoding times and slightly broader legacy browser adoption.