diff --git a/entities/internet-finance/futardio.md b/entities/internet-finance/futardio.md
index 3939e1019..1c225ad3a 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]] failed: $27,533 raised vs $250K target (11%), refunded after 1 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..25f6a0904
--- /dev/null
+++ b/entities/internet-finance/open-music-futardio-fundraise.md
@@ -0,0 +1,50 @@
+---
+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 raise targeting $250K for direct listener-to-artist payment model"
+tracked_by: rio
+created: 2026-03-11
+key_metrics:
+  raise_target: "$250,000"
+  total_committed: "$27,533"
+  oversubscription_ratio: 0.11
+  outcome: "refunded"
+---
+
+# Open Music: Futardio Fundraise
+
+## Summary
+Open Music proposed replacing Spotify's pro-rata pool model with direct listener-to-artist payments on Solana, targeting $250K to fund 10 months of development with a 2-person team expanding to 3. The raise attracted only $27,533 (11% of target) and entered refunding status after one day.
+
+## Market Data
+- **Outcome:** Failed (refunded)
+- **Raise Target:** $250,000
+- **Total Committed:** $27,533
+- **Duration:** 1 day (2026-03-03 to 2026-03-04)
+- **Team:** 2 full-stack developers, planned hire of 3rd
+- **Monthly Burn:** ~$25,000 (72% engineering, 16% infrastructure)
+
+## Value Proposition
+- Direct payment model: subscriber payments go only to artists they listened to
+- Platform cut: 10% vs Spotify's ~30%
+- Claimed payout delta: 100 fans = $128/month vs $9/month on Spotify
+- AI sonic similarity discovery (no label budget required)
+- Artist audience ownership (wallet-linked identity)
+- MVP live at openmusic.art
+
+## Significance
+Demonstrates futarchy market rejection of music streaming disruption thesis despite articulated value proposition and working MVP. The 11% subscription rate suggests either insufficient market validation of the direct-payment model or inadequate distribution/credibility for the founding team. Raises questions about whether futarchy markets effectively price early-stage consumer product risk versus infrastructure/protocol risk.
+
+## Relationship to KB
+- [[futardio]] — launch platform
+- [[open-music]] — parent entity
+- Example of low-conviction market outcome in consumer-facing vertical
diff --git a/entities/internet-finance/open-music.md b/entities/internet-finance/open-music.md
new file mode 100644
index 000000000..4ca275905
--- /dev/null
+++ b/entities/internet-finance/open-music.md
@@ -0,0 +1,34 @@
+---
+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_outcome: "refunded"
+  launch_date: "2026-03-03"
+  close_date: "2026-03-04"
+  platform_cut: "10%"
+  team_size: "2 developers"
+  monthly_burn: "$25,000"
+---
+
+# 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 futarchy-governed launch on Futardio but failed to meet funding target.
+
+## Timeline
+- **2026-03-03** — Launched $250K raise on [[futardio]] with direct-payment streaming model targeting independent artists
+- **2026-03-04** — Raise closed at $27,533 (11% of target), entered refunding status
+
+## Relationship to KB
+- [[futardio]] — launch platform
+- Example of futarchy-governed fundraise that failed market validation despite articulated value proposition
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..d7aa44a82 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: "Futarchy-governed fundraise that failed market validation. Created entity pages for Open Music (company) and the fundraise decision market. No novel claims extracted — the direct-payment streaming model and futarchy fundraise mechanics are already covered in existing KB claims. The significance is in the market outcome (11% subscription = rejection), which is captured in the entity timeline and decision_market analysis."
 ---
 
 ## Launch Details
@@ -181,3 +185,11 @@ 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)
+- Open Music claimed 100 fans = $128/month vs Spotify's $9/month for artists
+- Open Music proposed 10% platform cut vs Spotify's ~30%
+- Open Music had MVP live at openmusic.art at time of raise
+- Open Music team: 2 full-stack developers, $25K monthly burn