It's also built around a VA (vertical alignment) panel. In terms of quality, VA screens typically slot in between TN (twisted nematic) and IPS (in-plane switching) displays, offering color reproduction almost on the level of the latter with the speed of the former. Some people (and it varies by panel) even rate VA higher than IPS.
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This is also a G-Sync Compatible certified display. There's no G-Sync module inside, instead relying on AMD's FreeSync tech, but with Nvidia's latest GPU drivers it will run in G-Sync mode (and this is enabled by default). In addition, it "supports a variable refresh rate over HDMI to provide smooth gaming on Xbox One consoles," Acer says.
The other notable features are the combination of of HDR support with a 1,000 nits peak brightness rating. On LCD displays, brightness is directly tied to the quality of HDR, and many consider 1,000 nits to be the point where it really, uh, shines.