"Pacer" can lay claim to being the first hyperlapse film. It was shot on a Bolex 16mm camera and all the "effects" were done in-camera. The film's original negative was destroyed in it's one and only printing in 1995. The only print of the film was carefully transferred to 2K digital in 2014 and painstakingly remastered in early 2015.
The word "hyperlapse" has been getting tossed around a lot lately. But what exactly makes a hyperlapse, well, hyper? And why do they look so good? This video might help.