Vine will soon be going to the app graveyard in the sky, but the app's founders are already working on a new video service.

Two of Vine's original founders have teamed up on a new video app called Hype, which is centered around live video broadcasts.

Out now on iOS (its founders say they're working on an Android version), Hype has many of the features you've come to expect from livestreaming services. Users can stream live broadcasts to followers within the app, who can comment and interact with broadcasts in real-time. Videos can also be replayed after the fact or shared to Twitter.

But you aren't limited to sharing only video from your smartphone's camera. Hype also allows you to add photos, video, music, GIFs and other elements to your broadcast and broadcasters can feature comments they like so they appear higher up on the screen during the video streams.

Though the app's core functionality is more like Twitter-owned Periscope than Vine, its interface, which allows you to add animations and big chat bubbles to your video, is far quirkier than the increasingly polished Periscope.

That, of course, is likely due to the app's founders who know a thing or two about quirky video apps.

Hype was created by Rus Yusupov and Colin Kroll who, along with former Vine CEO Dom Hofmann, founded the six-second video app in 2012. (Hoffmann, who has two new apps of his own, appears to not be involved with Hype.)

Yusupov and Kroll took to Hype Friday to memorialize Vine in a lengthy livestream in which they shared some of their favorite clips and reminisced about their time working on the app.

"It was kind of a surprise to us," Yusupov said about the news of Vine's imminent shutdown.

Quirky features aside, Hype already faces a much more competition than Vine did early on -- particularly from Facebook and Twitter, who each have their own live video service -- but, at the very least, its relatively simple interface and the ability to overlay your own photos and video onto your broadcasts make it the perfect place to memorialize your favorite Vines.