Explanation/Reference:
Generic Network Virtualization Encapsulation (Geneve) is the peacemaking protocol drafted to unify VXLAN, NVGRE, and whatever other tunneling protocols emerge for network virtualization. Geneve doesn't exactly replace VXLAN and other protocols. Rather, it provides a common superset among them, so that outside software can provide hooks to Geneve rather than having to accommodate multiple encapsulation standards.
Note: NVGRE (Network Virtualization using Generic Routing Encapsulation) is a network virtualization technology that attempts to alleviate the scalability problems associated with large cloud computing deployments. It uses Generic Routing Encapsulation (GRE) to tunnel layer 2 packets over layer 3 networks. Its principal backer is Microsoft.
References:
https://www.sdxcentral.com/articles/news/intel-supports-geneve-unify-vxlan-nvgre/2014/09/