Vertex compression doesn't work on WebGL?

I’m doing everything according to the documentation Unity - Manual: Compressing mesh data

But my meshes remain in FP32 bit format and in their original size according to memory profiler taken in WebGL build in Chrome.
It works on Android though, meaning I have correct setup.

Is it because WebGL simply doesn’t support FP16 or there is another undocumented issue?

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That’s correct, vertex compression to FP16 is disabled for meshes when building to WebGL.