What is WebP?
TL;DR: WebP is an image format developed by Google that provides superior compression for web images. It supports both lossy and lossless compression, transparency (alpha channel), and animation — essentially combining the best features of JPEG, PNG, and GIF.
WebP images are typically 25-30% smaller than JPEG at equivalent visual quality and 26% smaller than PNG for lossless images. All modern browsers support WebP.