You probably have heard about AVIF already, but if not; it is a new image format which is based on the AV1 video format and generally has superior compression than the better-known WebP, JPEG, PNG and GIF formats. Avif is currently supported by Chrome & Opera and can be enabled by setting the image.avif.enabled flag in Firefox.
So there you have it, AVIF is now available in WordPress!
So AVIF is a new(ish) image format that promises even better optimization then WebP and is supported in desktop Chrome & behind a preference in Firefox; go to about:config and set image.avif.enabled to true.
If you are using Autoptimize to optimize your images and you want to test AVIF images, you can use below code snippet to do so;