Where HDR came from
Radiance HDR came out of Greg Ward's Radiance renderer in 1985 and was the first widely used way to store real luminance values rather than display-referred pixels. Its RGBE encoding packs an enormous dynamic range into 32 bits per pixel, which is why it remains the standard container for environment maps and image-based lighting in Blender, Maya, Unreal and every other 3D pipeline.
The technical picture
Compression: RGBE — shared exponent per pixel. Transparency: Not supported. Animation: Not supported. Colour: Floating-point, effectively unlimited dynamic range. Typical file size relative to WebP: much larger than WebP.
Where it opens
3D renderers, VFX and photographic HDR tools. This is usually the deciding factor when choosing between HDR and WebP — WebP renders in every browser but is uneven in desktop software, while HDR has a very different support profile.
Converting HDR to WebP
HDR files cannot be displayed by browsers or ordinary viewers. Converting to WebP tone-maps the image down to something you can actually look at and share. WebP is an 8-bit display-referred format. Converting from it cannot create dynamic range that was never captured — the result is a valid .hdr file but not a true high-dynamic-range capture.
Converting WebP to HDR
3D and VFX pipelines want .hdr for environment maps and image-based lighting. This wraps your image in that container so it drops into Blender, Maya or Unreal as a light source. Expect the HDR output to be much larger than WebP — that difference is the price of getting a format the destination will actually accept.