---
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