Example:

<figure>
  <video controls width="320" height="240">
    <source src="video.mp4" type="video/mp4">
    Your browser does not support the video tag.
  </video>
  <figcaption>Video Caption</figcaption>
</figure>

The figure tag adds more meaning semantics to the HTML document when compared to the image tag.

According to to the Free Code Camp forum we should be keeping the figcaption with the figure tag even if we are not using it.