AVIF was designed to provide a royalty-free and patent-free solution for web image delivery compared to the existing image formats. The first version of AVIF was released in 2019. Since then, it has offered both a great experience and better quality for viewing images on websites with an efficient compression algorithm.
Primary sources
1. AVIF - The Full Guide and FAQ2. AVIF AOMedia Specification3. AVIF Wikipedia4. Jake Archibald Article5. AVIF Netflix article