Is AVIF better than other codecs?

Is AVIF better than other codecs? Out of all, AVIF appears to be the most promising of all codecs. With the highest compression rate in the industry, it is supported by a wide range of applications. Several leading technology companies are developing AVIF. The licensing of their codec patents was designed to build a long-lasting ecosystem. Netflix considers AVIF to have superior compression versus image quality over JPEG and even WebP.

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