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I think it is from the Internet Explorer days. .ico is an actual icon file format on Windows and IIRC originally the icons were in that format, with support for

by oniony 2y ago

I think it is from the Internet Explorer days. .ico is an actual icon file format on Windows and IIRC originally the icons were in that format, with support for GIF coming when Netscape supported the feature.

colejohnson66 2y ago
Many browsers will accept a favicon.ico that's actually a PNG file with no issues.