---
type: entity
entity_type: company
name: "Open Music"
domain: internet-finance
status: failed
founded: 2025
platform: solana
tracked_by: rio
created: 2026-03-11
key_metrics:
  raise_target: "$250,000"
  total_committed: "$27,533"
  raise_outcome: "refunded"
  launch_date: "2026-03-03"
  close_date: "2026-03-04"
  oversubscription_ratio: 0.11
source_archive: "inbox/archive/2026-03-03-futardio-launch-open-music.md"
supports:
- "Open Music: Futardio ICO Launch"
reweave_edges:
- "Open Music: Futardio ICO Launch|supports|2026-04-19"
---

# Open Music

Artist-first music streaming platform built on Solana that attempted to replace Spotify's pro-rata pool model with direct fan-to-artist payments. Raised through Futardio but failed to reach funding target and refunded backers.

## Timeline

- **2026-03-03** — Launched $250K raise on Futardio with direct payment model where subscriber payments go only to artists they listen to
- **2026-03-04** — Raise closed at $27,533 (11% of target), status: refunding

## Relationship to KB

- [[futardio]] — fundraising platform
- Example of futarchy-governed raise that failed to attract sufficient capital despite novel value proposition
- Demonstrates market validation function: direct payment model did not attract enough early supporters to reach minimum viable funding