diff --git a/entities/internet-finance/futardio.md b/entities/internet-finance/futardio.md
index 3939e1019..4a9d729a3 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 fundraise launched ($250K target); closed REFUNDING at $27,533 (11% of target) after one day
 ## 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..1fa20c3cf
--- /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 fundraise on Futardio targeting $250K; failed at $27,533 (11% of target)"
+key_metrics:
+  raise_target: "$250,000"
+  total_committed: "$27,533"
+  outcome: "REFUNDING"
+  duration_days: 1
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Open Music: Futardio Fundraise
+
+## Summary
+Open Music launched a futarchy-governed fundraise on Futardio targeting $250,000 to build artist-first music streaming on Solana. The project proposed replacing Spotify's pro-rata pool model with direct listener-to-artist payments, had a live MVP at openmusic.art, and detailed financial planning ($25K monthly burn, 10-month runway with two full-stack developers). Despite substantive fundamentals, the raise attracted only $27,533 (11% of target) and entered REFUNDING status after one day.
+
+## Market Data
+- **Outcome:** Failed (REFUNDING)
+- **Raise Target:** $250,000
+- **Total Committed:** $27,533 (11% of target)
+- **Duration:** 2026-03-03 to 2026-03-04 (1 day)
+- **Token:** 4Hj
+- **Token Mint:** 4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta
+
+## Significance
+This failed raise demonstrates that futarchy-governed launches can fail to attract capital even when projects have substantive fundamentals: live product, technical team, clear market thesis, and detailed financial planning. The rapid failure (one day) suggests the market mechanism efficiently rejected the project, but raises questions about whether futarchy selects for speculation over substance or whether the project's fundamentals were weaker than they appeared.
+
+## Relationship to KB
+- [[open-music]] — parent entity
+- [[futardio]] — launch platform
+- [[futarchy-variance-creates-portfolio-problem-because-mechanism-selects-both-top-performers-and-worst-performers-simultaneously]] — case study in mechanism variance
+- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — counterexample to meme coin dominance thesis
\ No newline at end of file
diff --git a/entities/internet-finance/open-music.md b/entities/internet-finance/open-music.md
new file mode 100644
index 000000000..00c9e8edf
--- /dev/null
+++ b/entities/internet-finance/open-music.md
@@ -0,0 +1,32 @@
+---
+type: entity
+entity_type: company
+name: Open Music
+domain: internet-finance
+status: failed
+founded: 2025
+website: https://openmusic.art
+twitter: https://x.com/openmusic_art
+key_metrics:
+  raise_target: "$250,000"
+  total_committed: "$27,533"
+  raise_outcome: "REFUNDING"
+  monthly_burn: "$25,000"
+  team_size: 2
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Open Music
+
+Artist-first music streaming platform on Solana that attempted to replace Spotify's pro-rata pool model with direct listener-to-artist payments. Raised $27,533 of $250,000 target through Futardio before entering REFUNDING status (2026-03-03 to 2026-03-04). Had live MVP at openmusic.art with two full-stack developers and detailed financial planning, but failed to attract sufficient capital through futarchy-governed launch.
+
+## Timeline
+- **2025** — Founded; MVP launched at openmusic.art
+- **2026-03-03** — Futardio fundraise launched targeting $250,000
+- **2026-03-04** — Fundraise closed in REFUNDING status with $27,533 committed (11% of target)
+
+## Relationship to KB
+- [[futardio]] — launch platform
+- [[futarchy-variance-creates-portfolio-problem-because-mechanism-selects-both-top-performers-and-worst-performers-simultaneously]] — case study in futarchy launch failure despite substantive fundamentals
+- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — counterexample showing futarchy launches can fail even with real products
\ No newline at end of file
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..b431037ef 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 +6,14 @@ 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
+enrichments_applied: ["futarchy-governed-meme-coins-attract-speculative-capital-at-scale.md", "futarchy-variance-creates-portfolio-problem-because-mechanism-selects-both-top-performers-and-worst-performers-simultaneously.md"]
+extraction_model: "anthropic/claude-sonnet-4.5"
+extraction_notes: "Failed Futardio fundraise for music streaming platform. No novel claims extracted — this is primarily entity/timeline data enriching existing futarchy launch variance claims. The project had substantive fundamentals (live MVP, technical team, detailed financials) but failed to attract capital, providing counterexample to meme coin dominance thesis and confirming futarchy variance patterns."
 ---
 
 ## Launch Details
@@ -181,3 +186,12 @@ 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 on Futardio (2026-03-03 to 2026-03-04)
+- Open Music proposed direct listener-to-artist payment model vs Spotify's pro-rata pool
+- Open Music had live MVP at openmusic.art with 2 full-stack developers
+- Open Music planned $25K monthly burn for 10-month runway
+- Spotify made $20B in revenue with average artist payout of $0.003 per stream (per Open Music pitch)
+- Open Music claimed 100 fans would pay artist ~$128/month vs ~$9/month on Spotify