Hyperspace (Synereo) Is Shutting Down
I'm excited to be living through what is - more or less - the format wars for decentralized media. There are a lot of great ideas and blockchains out there, but like VHS and Beta, or HD DVD and Blue Ray...
THERE CAN BE ONLY ONE!
I keep track of them on my Distant Signal website, so if you ever want a quick comparison, I've got a fun little chart with all the current Media Chains I know of that are available. I'm going to be adding @dtube tokens as soon as they are available to track!
Sadly, I had to delete Hyperspace today from that list after I received an email from their team with the news that they are ceasing operations.
It had a really nice interface and had a Universal Basic Income model where everyone would get an automatic amount of AMPs every so many hours. I forget what the frequency was, but it seems as though just giving crypto away is not enough to get bring it into circulation and increase use. There's probably a lesson in there somewhere about the real world UBI experiments but I don't know what that lesson is as of yet.
In any case, as these format wars run their course, we can see that even good ideas with decent designs can fail. The success of Steem is not set in stone and there are still quite a few competitors out there in the space of monetizing social media and art on the blockchain.
While it's sad that we have lost a competitor in this space, this also represents a victory in the development of it. As the players are winnowed down and their mistakes and successes analyzed, the others will grow in strength.
Here's hoping that Steem and its network of apps can fill the void left by Hyperspace and continue to improve.
Steem on!
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HyperSpace has been an scam since their inception. For a few years they were developing some kind of social app. Then they created WildSpark -which at least provided a wallet feature, although limited in the amounts you could withdraw- and finally they offered HyperSpace, which was like WildSpark, but adding the UBI feature -every single time there is an UBI, you know the project will fail- and allowing users to post their own content.
What I think is that they run out of money, so they said it was difficult to transform their service so they could operate in Israel. What about just creating smart contracts and decentralizing HyperSpace? Really? In more than six months they were unable of at least trying it?
Just as a side note, @distantsignal, HyperSpace was a centralized platform whose token was running on the Omni layer over Bitcoin, so it wasn't a "media chain". I don't see Ethereum as a "media chain", neither, nor "Flixxo".
I define media chains as blockchains that primarily deal with “media” and include Ethereum because of it’s ERC-20 token and smart contracts are being ubiquitously used for said content. Flixxo is garbage but it definitely fits my definition of a “media chain”. Flixxo is such shit. Totally centralized and you don’t even control your keys.
Thanks for the info on Hyperspace. I’ve been following it for a while and knew it was Wildspark and Synereo for a time. I thought it was just rebranding.
I’m willing to include the ERC-20 tokens seperatelt as they arise.
I was one of the fools who bought FLIXXO on their sale. Those where the times which it was like the dot-com bubble. I mostly learnt the leason.
Yeah. Synereo was the company. They launched WildSpark and then started talking about "Project X", which was what became HyperSpace. At the time they announced HyperSpace, then they rebranded, while keeping WildSpark -which was also quite clearly a ponzi scheme where latest people "amplifying" paid previous ones but didn't get anything until someone amplified the content after them- and HyperSpace as their service offering.