AV1, developed by AOMedia, is an evolution of VP9, Thor, and Daala codecs, and it aims to improve coding efficiency. AV1 is designed to be royalty-free, scalable to any device and bandwidth, suitable for both commercial and non-commercial content, and optimized for internet applications. The codec supports different profiles and levels, specifying bit depth, chroma subsampling, and resolution characteristics. AV1 also introduces various coding tools, such as block structures, transform block sizes, intra prediction modes, motion compensation options, and extended reference frames, to enhance the coding performance. These features make AV1 capable of bringing high-quality videos, including 4K UHD, HDR, and WCG, to real-time applications. One unique feature of AV1 is the inclusion of palette mode, which is useful for screen-content videos with a limited color range. Additionally, AV1 offers improved inter prediction capabilities with affine/warped motion compensation, overlapping block motion compensation, and sub-pixel interpolation filters, resulting in better video quality.
https://github.com/QuPengfei/Technical-Overview-Of-AV1-Spec