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Definition: WebP

A bitmapped graphics file format from Google that was introduced in 2010. Often pronounced "Weppy," WebP is the still image counterpart to Google's WebM video format and was derived from the same sources. Designed as a single format that can be used in place of JPEG, GIF and PNG, WebP images can be lossy like JPEG or lossless like GIF and PNG. WebP supports 24-bit color and an 8-bit alpha channel for transparency.

Animation and Transparency
Like animated GIFs, an animated WebP is a sequence of still frames; however, it requires a bit more processing power to render. Unlike an animated GIF, WebP can combine lossy and lossless frames, and it supports transparency on a frame-to-frame basis. See AVIF, animated GIF, GIF, JPEG, PNG and WebM.