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AVIF (AV1 Image File Format) is a relatively new image format that was developed as part of the AV1 open video codec by the Alliance for Open Media. Introduced to the public around 2019, AVIF offers a highly efficient compression method that is particularly effective for high-quality images on the internet. It is designed to be a successor to JPEG, and it competes with other modern formats like WebP.
PNG, which stands for Portable Network Graphics, is a raster graphics file format that was created as an improved, non-patented replacement for GIF. It was first developed in the mid-1990s as a response to the limitations of the GIF format, primarily its color palette restrictions and the patent issues surrounding the compression technique GIF used at the time.