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]] launched $250K raise for artist-first streaming platform, closed at $27,533 (11% of target), refunded
 ## 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.md

@@ -0,0 +1,33 @@
+---
+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
+---
+
+# 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

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: "Futardio launch that failed to reach funding threshold. No novel claims about futarchy mechanisms or market dynamics — this is a straightforward failed raise. The direct payment model vs pro-rata pool is a product feature, not a generalizable claim about music economics or platform design. Entity data only."
 ---
 
 ## Launch Details
@@ -181,3 +185,13 @@ 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% fill rate) on Futardio (2026-03-03)
+- Open Music proposed direct fan-to-artist payment model vs Spotify's pro-rata pool
+- Open Music claimed $128/month payout for 100 fans vs $9/month on Spotify
+- Spotify paid artists average $0.003 per stream, made $20B revenue (2025)
+- Open Music MVP live at openmusic.art with artist upload and payment functionality
+- Open Music planned $25K/month burn rate: 72% engineering, 16% infrastructure, 8% growth, 4% ops
+- Open Music team: 2 full-stack developers, planned to hire third with raise funds