---
type: entity
entity_type: decision_market
name: "Futardio: Open Music 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 seeking $250K, raised $27.5K before refunding"
key_metrics:
  raise_target: $250000
  total_committed: $27533
  shortfall_percent: 89
  duration_days: 1
  token: 4Hj
  token_mint: 4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta
  launch_address: 4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu
tracked_by: rio
created: 2026-03-11
---

# Futardio: Open Music Fundraise

## Summary

Open Music attempted to raise $250K through Futardio's futarchy-governed launch mechanism to fund artist-first streaming platform. Despite live MVP, clear value proposition (14x artist payout vs Spotify), and realistic financial planning ($25K monthly burn, 10-month runway), the raise attracted only $27,533 (11% of target) and closed in refunding status within 24 hours.

## Market Data

- **Outcome:** Failed (refunded)
- **Capital committed:** $27,533 / $250,000 (11%)
- **Duration:** 1 day (2026-03-03 to 2026-03-04)
- **Token:** 4Hj
- **Platform version:** v0.7

## Significance

First documented utility-focused project failure on Futardio, contrasting with successful meme coin launches (CULT: $11.4M). Demonstrates futarchy governance does not guarantee capital attraction for fundamentally sound projects. The refunding mechanism worked as designed—investors received full capital return—validating the "unruggable ICO" claim even in failure mode.

Raise failure occurred despite:
- Live product (openmusic.art)
- Clear unit economics (14x payout improvement)
- Technical infrastructure (Solana payments, AI discovery)
- Experienced team (2 full-stack developers)
- Realistic financial planning

Suggests futarchy-governed launches may select for speculative/memetic appeal over fundamental utility, or that $250K target exceeded market appetite for early-stage music streaming alternatives.

## 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]] — confirms variance claim
- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — challenges with counter-evidence