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 +46,8 @@ 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 on Futardio, targeting $250,000 for artist-first streaming platform
+- **2026-03-04** — Open Music fundraise closed at $27,533 (11% of target), moved to REFUNDING status, marking a high-profile utility token failure on the platform
 ## 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 +1,40 @@
+---
+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"
+platform: "Solana"
+key_metrics:
+  fundraise_target: "$250,000"
+  fundraise_actual: "$27,533"
+  fundraise_platform: "Futardio"
+  fundraise_outcome: "refunded"
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Open Music
+
+Artist-first music streaming platform built on Solana that attempted to replace Spotify's pro-rata pool model with direct listener-to-artist payments. Raised only 11% of target ($27,533 of $250,000) through Futardio futarchy-governed launch before refunding.
+
+## Overview
+
+Open Music proposed a streaming model where subscriber payments go directly to artists they listen to, rather than into a global pool. Positioned as solving the "$0.003 per stream" problem where Spotify made $20B while artists earned minimal royalties. The platform claimed 100 fans would pay artists ~$128/month vs ~$9/month on Spotify through eliminating the pool model and reducing platform cut from ~30% to 10%.
+
+MVP was live at openmusic.art with upload and payment functionality. Team consisted of two full-stack developers with plans to hire a third. Raise funds were allocated 72% to engineering, 16% to infrastructure, 8% to growth, 4% to legal/ops, targeting ~10 months runway at $25K/month burn.
+
+## Timeline
+
+- **2025-Q2** — MVP launched at openmusic.art with artist upload and payout functionality
+- **2026-03-03** — Futardio fundraise launched, target $250,000
+- **2026-03-04** — Fundraise closed with $27,533 raised (11% of target), status: REFUNDING
+
+## Relationship to KB
+
+Demonstrates that futarchy-governed launches ([[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]]) do not automatically attract capital even with substantive documentation and clear value proposition. Challenges the claim that [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] by showing utility tokens fail to attract capital through the same mechanism that succeeded for meme coins like CULT.
+
+Raised through [[futardio]] on [[metadao]] infrastructure.

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-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility.md"]
+extraction_model: "anthropic/claude-sonnet-4.5"
+extraction_notes: "Failed Futardio launch that provides counter-evidence to meme coin success pattern. No novel claims about mechanisms—the failure itself is the data point. Open Music had substantive documentation (team, roadmap, competitive analysis, financial model) but failed to attract capital, suggesting futarchy mechanism alone is insufficient and asset class (utility vs meme) dominates capital attraction. Created new entity for Open Music and enriched two existing claims about futarchy capital dynamics."
 ---
 
 ## Launch Details
@@ -181,3 +186,18 @@ AI discovery, and audience ownership in a single platform.
 - Token mint: `4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta`
 - Version: v0.7
 - Closed: 2026-03-04
+
+
+## Key Facts
+- Open Music fundraise target: $250,000
+- Open Music actual raised: $27,533 (11% of target)
+- Open Music launch date: 2026-03-03
+- Open Music close date: 2026-03-04
+- Open Music status: REFUNDING
+- Open Music monthly burn rate: $25,000
+- Open Music team size: 2 full-stack developers
+- Open Music platform: Solana
+- Open Music token: 4Hj
+- Open Music claimed payout delta: $128/month vs $9/month for 100 fans (Spotify comparison)
+- Spotify revenue cited: $20B/year
+- Spotify per-stream rate cited: $0.003