diff --git a/entities/internet-finance/futardio.md b/entities/internet-finance/futardio.md index 3939e1019..b7952bee8 100644 --- a/entities/internet-finance/futardio.md +++ b/entities/internet-finance/futardio.md @@ -46,6 +46,7 @@ MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless - **2026-03-07** — Areal DAO launch: $50K target, raised $11,654 (23.3%), REFUNDING status by 2026-03-08 — first documented failed futarchy-governed fundraise on platform - **2026-03-04** — [[seekervault]] fundraise launched targeting $75,000, closed next day with only $1,186 (1.6% of target) in refunding status +- **2026-03-03** — [[open-music-futardio-fundraise]] launched seeking $250K for artist-first streaming platform, failed with only 11% subscription and refunded backers within 24 hours ## Competitive Position - **Unique mechanism**: Only launch platform with futarchy-governed accountability and treasury return guarantees - **vs pump.fun**: pump.fun is memecoin launch (zero accountability, pure speculation). Futardio is ownership coin launch (futarchy governance, treasury enforcement). Different categories despite both being "launch platforms." diff --git a/entities/internet-finance/open-music-futardio-fundraise.md b/entities/internet-finance/open-music-futardio-fundraise.md new file mode 100644 index 000000000..7c787bca4 --- /dev/null +++ b/entities/internet-finance/open-music-futardio-fundraise.md @@ -0,0 +1,43 @@ +--- +type: entity +entity_type: decision_market +name: "Open Music: Futardio Fundraise" +domain: internet-finance +status: failed +parent_entity: "[[open-music]]" +platform: "futardio" +proposal_url: "https://www.futard.io/launch/4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu" +proposal_date: 2026-03-03 +resolution_date: 2026-03-04 +category: "fundraise" +summary: "Artist-first streaming platform seeking $250K to build direct listener-to-artist payment model on Solana" +tracked_by: rio +created: 2026-03-11 +key_metrics: + raise_target: "$250,000" + total_committed: "$27,533" + oversubscription_ratio: 0.11 + token_symbol: "4Hj" + token_mint: "4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta" +--- + +# Open Music: Futardio Fundraise + +## Summary +Open Music launched a futarchy-governed fundraise on Futardio seeking $250,000 to build an artist-first streaming platform that replaces Spotify's pro-rata pool model with direct listener-to-artist payments. The market failed to validate the project, raising only $27,533 (11% of target) before closing and entering refund status. + +## Market Data +- **Outcome:** Failed (refunding) +- **Raise Target:** $250,000 +- **Total Committed:** $27,533 +- **Oversubscription:** 0.11x +- **Duration:** 1 day (2026-03-03 to 2026-03-04) + +## Significance +Demonstrates futarchy-governed fundraising's ability to quickly invalidate projects that fail market validation, even when the pitch addresses a real problem (artist compensation in streaming). The 11% subscription rate suggests either insufficient market demand, lack of credibility in the team/execution plan, or broader skepticism about disrupting entrenched streaming platforms. The rapid refund (within 24 hours) shows the mechanism's efficiency at capital preservation when markets reject proposals. + +## Relationship to KB +- [[open-music]] — parent entity +- [[futardio]] — launch platform +- [[futarchy-governed-liquidation-is-the-enforcement-mechanism-that-makes-unruggable-ICOs-credible-because-investors-can-force-full-treasury-return-when-teams-materially-misrepresent]] — refund mechanism in action +- [[internet-capital-markets-compress-fundraising-timelines]] — 1-day fundraise cycle demonstrates speed diff --git a/entities/internet-finance/open-music.md b/entities/internet-finance/open-music.md new file mode 100644 index 000000000..9933dc82b --- /dev/null +++ b/entities/internet-finance/open-music.md @@ -0,0 +1,39 @@ +--- +type: entity +entity_type: company +name: "Open Music" +domain: internet-finance +status: failed +founded: 2025 +platform: "Solana" +website: "https://openmusic.art" +twitter: "https://x.com/openmusic_art" +tracked_by: rio +created: 2026-03-11 +key_metrics: + raise_target: "$250,000" + total_committed: "$27,533" + raise_status: "refunding" + launch_date: "2026-03-03" + close_date: "2026-03-04" + oversubscription_ratio: 0.11 + platform_fee: "10%" + monthly_burn: "$25,000" + planned_runway: "10 months" +--- + +# Open Music + +Artist-first music streaming platform built on Solana that replaces Spotify's pro-rata pool model with direct listener-to-artist payments. Raised through [[futardio]] futarchy-governed launch but failed to meet funding target and refunded backers. + +## Overview + +Open Music proposed a streaming model where each subscriber's payment goes only to artists they personally listened to that month, rather than being pooled globally. Platform takes 10% versus Spotify's ~30%, with payouts in USD wallet + USDC. Featured AI-powered sonic similarity discovery to replace label-budget-driven promotion. Two full-stack developers with plans to hire a third. + +## Timeline +- **2026-03-03** — [[open-music-futardio-fundraise]] launched on Futardio seeking $250K +- **2026-03-04** — Fundraise closed with $27,533 committed (11% of target), status: refunding + +## Relationship to KB +- [[futardio]] — launch platform +- Example of futarchy-governed fundraise that failed to meet market validation threshold diff --git a/inbox/archive/2026-03-03-futardio-launch-open-music.md b/inbox/archive/2026-03-03-futardio-launch-open-music.md index 2cdb673b0..d31a326d8 100644 --- a/inbox/archive/2026-03-03-futardio-launch-open-music.md +++ b/inbox/archive/2026-03-03-futardio-launch-open-music.md @@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu" date: 2026-03-03 domain: internet-finance format: data -status: unprocessed +status: processed tags: [futardio, metadao, futarchy, solana] event_type: launch +processed_by: rio +processed_date: 2026-03-11 +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Factual launch data for failed futarchy-governed fundraise. No novel claims about mechanisms or market dynamics beyond what's already captured in existing KB claims about futarchy-governed fundraising and liquidation. The failure itself is a data point (entity/timeline) rather than a claim. Pitch contained standard startup rhetoric about disrupting Spotify but no evidence of traction beyond 'MVP is live' — insufficient for extractable claims about music streaming economics or platform viability." --- ## Launch Details @@ -181,3 +185,12 @@ AI discovery, and audience ownership in a single platform. - Token mint: `4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta` - Version: v0.7 - Closed: 2026-03-04 + + +## Key Facts +- Open Music raised $27,533 of $250,000 target (11% subscription) on Futardio (2026-03-03) +- Open Music fundraise closed and refunded within 24 hours (2026-03-04) +- Open Music proposed 10% platform fee versus Spotify's ~30% +- Open Music claimed 100 fans would pay artists ~$128/month versus ~$9/month on Spotify +- Open Music team: 2 full-stack developers, planned to hire third with raise funds +- Open Music monthly burn planned at ~$25,000 for 10-month runway