HyperSpace is shutting down.
It’s been five years since we began this journey. Five years pushing toward our vision, overcoming hurdle after hurdle, each unfamiliar, each unique and unexplored. Hurdles new to ourselves and to the market in which we were operating. In which we were pioneers.
Synereo was founded in 2014. On a shoestring budget and at great personal cost, we kept developing and iterating on the product, navigating the budding crypto-powered decentralization space. We believed that decentralization, combined with near-frictionless payments, would set the attention economy free.
Five years ago, offering an alternative to the predatory products offered by Facebook and other content giants was a much less obvious idea than it is today.
We did our best throughout the years to deliver on that promise, calibrating our offering but staying true to our long term vision of unlocking the value created by all participants in the attention economy. We wanted the denizens of the Internet to reclaim their social capital, building a mechanism that provides content creators, curators, distributors, forum admins and entire communities with ways of getting a fair share of the value they generate online.
We kept pace with increasing regulation and relied on technology not-yet-ready for primetime, navigating the new waters on tight budgets throughout the long period of our existence. However, in 2019, the operational and regulatory burdens have become a prohibitive factor. We launched HyperSpace while facing increasing resistance from banks, regulators, and strategic content partners pulling out at the last minute after a great many resources were put into the efforts.
We appreciate all of our followers who have supported us morally, financially, spiritually, and in so many other ways throughout the years. Your support allowed us to make a strong case for a truly disintermediated content economy. For a network fully operated and owned by its users. It allowed our collective voice to be heard, and our shared vision of freedom and fairness based on a new way to do Internet to permeate the world. Even without Synereo or HyperSpace, that voice lives on.
Our hearts go out to the tight community of creators that calls HyperSpace home. We sincerely hope you find a new, better one.
We have always appreciated your attention,
— The Synereo Team