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Pixel Art refers to the charming, simplistic, retro/renaissance style of very-low-resolution graphics, such as from the 1977-1995 Atari, GameBoy, & Super Nintendo (SNES) eras.

PNG, or Portable Network Graphics is a common image file format that is lossless, can contain an transparency channel, and compressed. An ideal format for distributing static assets without any loss in quality.

For that old school look and feel.