Vaporwave is an online-based music and artist movement that started in the 2010s. It heavily appropriates motifs from 80s and 90s pop culture via sampling and audio manipulation. It’s partly generated as both an effort to satirizing retro pop culture and nostaglia for yesteryear.
Ecuawave is a microgenre that takes vaporwave as it is and applies Ecuadorian characteristics. Unlike in the West, the 1990s were a tumultuous time-period with multiple presidents put in power (and subsequently overthrown) so not much nostalgia to be had there. The mid to late 2000s on the other hand is different: many Ecuadorians became middle-class and closely connected to the West, even as the government distanced itself from America.