Gif src encoded with base64 after it?

I was asked to work on a website and I see such links. Has anyone seen something like this before? I am wondering why base64 code is needed:

src="data:image/gif;base64,R0lGODlhAQABAID/AMDAwAAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw==" 
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a hash is the actual gif content encoded with base64

example

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Actual data: image / gif; base64, R0lGODlhAQABAID / AMDAwAAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw == - in particular, this code is a PLACEHOLDER gif if you uploaded your image, either failed to load, or could not be found ...

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