4bdc6eb13d
- 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>
37 lines
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1.7 KiB
Markdown
37 lines
No EOL
1.7 KiB
Markdown
---
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type: entity
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entity_type: company
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name: Open Music
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domain: internet-finance
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status: failed
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founded: 2025
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platform: Solana
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website: https://openmusic.art
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twitter: https://x.com/openmusic_art
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key_metrics:
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raise_target: "$250,000"
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total_committed: "$27,533"
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oversubscription_ratio: 0.11
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monthly_burn: "$25,000"
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projected_runway: "10 months"
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tracked_by: rio
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created: 2026-03-11
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---
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# Open Music
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Artist-first music streaming platform on Solana that replaces Spotify's pro-rata pool model with direct listener-to-artist payments. Attempted futarchy-governed fundraise on Futardio that failed to reach minimum threshold.
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## Overview
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Open Music built a direct payment streaming model where each subscriber's payment goes only to artists they personally listened to that month, rather than being pooled globally. The platform claimed this would pay artists ~$128/month per 100 fans versus Spotify's ~$9/month. Had live MVP at openmusic.art with artist upload and payment functionality. Raised only 11% of $250K target through Futardio launch before entering refund status.
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## Timeline
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- **2025-Q4** — MVP launched at openmusic.art with artist upload and USDC payout functionality
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- **2026-03-03** — Futardio fundraise launched targeting $250K for 10-month runway
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- **2026-03-04** — Fundraise closed in REFUNDING status with $27,533 committed (11% of target)
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## Relationship to KB
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- [[futardio]] — fundraising platform
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- [[futarchy-variance-creates-portfolio-problem-because-mechanism-selects-both-top-performers-and-worst-performers-simultaneously]] — exemplifies downside variance
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- Contrasts with [[futardio-cult-raised-11-4-million-in-one-day-through-futarchy-governed-meme-coin-launch]] as failed launch on same platform |