The webinar will briefly discuss the evolution of video codecs and highlight the improvement in VVC's compression efficiency over the previous generation of codecs. We will discuss the significant opportunity that exists for VVC and the possible reasons for it to have increased adoption in the imminent future. We will present MulticoreWare's unique strength and positioning to recreate the success of x265 with the next generation encoder as well. We will provide an update on the development of x266, MulticoreWare's open-source performant implementation of VVC. We will also share results, a development roadmap, and a timeline for x266.