Followed by Moto Z Play, Motorola has expanded the Android 8.0 Oreo to Moto Z and Moto Z2 Play handsets. They were testing the soak version of Oreo OS, not stable version. Right now the Brazil units are receiving this software update. Also note this firmware update will be available for random users who registered for Motorola Feedback Network (MFN).
Other eligible users will receive the stable version, after successfully completed the soak test. The oreo firmware for Moto Z and Z2 Play brings new version OPL27.76-15 and OPS27.74. Talking about Oreo features, it includes new picture in picture mode, fast booting, notification dots, adaptive icons, revamped settings and quick settings UI and more. Apart from these features, it also carries January 1 2018 security patch, camera related enhancements and stability tweaks.
As usual, Motorola is sending out this software update via OTA. I have already notified they were rolling out this update for random MFN users. If you have Moto Z or Z2 Play handsets then check for the software update from Settings > About Phone > Software Update.