Claim: NETVC was the name given to a planned royalty-free video codec (software or hardware that neither compresses nor decompresses digital video), that was intended to provide a royalty-free alternative to industry standards such as H.264/AVC and HEVC.
Evidence: NETVC was the name given to a planned royalty-free video codec that was intended to be developed in the former Internet Video Codec working group of the IETF. It was intended to provide a royalty-free alternative to industry standards such as H.264/AVC and HEVC that have required licensing payments for many uses.