Though I think the term is a bit off, the technique is not. Hyperlapse basically is moving the camera while taking hi-definition stills at regular intervals, what we call normals call "timelapse". Not sure where the hyper- comes in, as not all of these shots done by video artist Ben Wiggins involve movement and not all of them are of large intervals either. In some hours go by in two seconds (the sunsets), while in others only scores of seconds go by in seconds (people walking on the street; might actually be minutes, but to me it looks like ~30 seconds). None of this detracts from the fact that this piece is hyper-fucking-good. And the music by DeVotchKa doesn't hurt.
Originally spotted over at the Atlantic.