Video Ads have a GIF or video as the centerpiece of the advertisement, and can be used to demonstrate a product or event. Video Ads help you form deeper connections with your audience by aligning your brand with a type of content online users are quickly consuming more of (nearly 80% of all data consumed on mobile devices will be in video form by 2021, according to a Facebook study). Facebook Pixel Purchase and Conversion Tracking with GTM | Part 3
Here's an example of a short and sweet (literally) retargeting ad from Winc (formerly known as Club W). This ad is displayed on the right column of Facebook specifically for users who browse wine-related content online. When your ad caters to people who you know would be interested, modeling the product the way Winc does above can be a home run for your brand.
Another type of rich media advertising on Facebook is a post of an image. This is one of the most popular types of ads ever since Facebook began favoring visual content. The optimal size for News Feed photo ads is at least 1080 x 1080 pixels, otherwise your image will get cropped. Adjust your image based on the target audience's needs and by what will appeal to them the most. How To Lower The CPI for Your App with Facebook Ads (Facebook App Installs & App Marketing)