Bandwitdh cost savings: Webp support on page contents, product previews and thumbnails.

Currently it seems like you cannot use a inline webp image element in page contents, product previews and thumbnails as it creates an error saying: "There was an error starting the upload of .webp"

The specific use case that webp would cover is an alternative to GIF. Webp provides better compression ratio and quality over GIF with the same autoplay and looping features as GIF.

Furthermore, autoconverting GIF to webp will yield bandwidth cost savings due to the more efficient nature of webp.

Webp has been around for 10 years and with major browser support across the board: https://caniuse.com/webp