Live Photos will now have the following new effects: loops, bounce, and long exposure. Loop will turn your Live Photo in a GIF; bounce makes a photo move back and forth (similar to Instagram's Boomerang app [5]); and long exposure gives a photo with moving parts like a waterfall a blurry or smooth effect. Ahead, you can see what the loop and bounce effect look like, left to right.
Along with these effects, iOS 11 will also let you edit, mute, and pick the thumbnail for live photos. iOS 11 will be available as a free update this Fall.