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!

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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.

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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.

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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!


Continue the discussion on Distant Signal’s forum’s. Powered by Steem!


WHO DIS IS

If you want to know who I am and what Distant Signal is, check this out. It’s sort of a manifesto. The TL;DR is that I’ve won an award for producing, make a lot of reality TV, live in LA and think that artist and media incentives are misaligned and serve large corporations and not independent artists.

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DISTANT SIGNAL SOCIAL:

WEBSITE: https://www.thesignalisstrong.com
YOUTUBE: https://www.youtube.com/adistantsignal
LBRY: Direct LBRY App Link!
INSTAGRAM: https://instagram.com/distant_signal/
GAB: https://gab.com/Distant_Signal
MINDS: https://www.minds.com/DistantSignal

MISSION

In 2019 the goal is to produce the short horror film, Changelings, the world of that story and to build a community of filmmakers that are enthusiastic about filmmaking and crypto currency.

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PHIL ABATECOLA’S PERSONAL SITES:
INSTAGRAM: https://instagram.com/abatecolasan/
WEBSITE: http://www.philabatecola.com