rio: extract from 2026-03-03-futardio-launch-open-music.md

- Source: inbox/archive/2026-03-03-futardio-launch-open-music.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 4)

Pentagon-Agent: Rio <HEADLESS>

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."

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

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

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