61c95d8810
- 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>
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| type | entity_type | name | domain | status | founded | platform | website | key_metrics | tracked_by | created | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | company | Open Music | internet-finance | failed | 2025 | Solana | https://openmusic.art | https://x.com/openmusic_art |
|
rio | 2026-03-11 |
Open Music
Artist-first music streaming platform built on Solana that replaces Spotify's pro-rata pool model with direct subscriber-to-artist payments. Attempted futarchy-governed fundraise on Futardio in March 2026 but failed to reach minimum threshold.
Timeline
- 2025 — MVP launched at openmusic.art with artist upload and payment functionality
- 2026-03-03 — Futardio fundraise launched targeting $250K with 10-month runway plan
- 2026-03-04 — Fundraise closed in refunding status after raising only $27,533 (11% of target)
Business Model
Direct payment model where each subscriber's $9/month goes only to artists they personally listened to that month, proportional to listening time. Platform takes 10% vs Spotify's ~30%. Payouts in USD wallet + USDC on Solana.
Value proposition: 100 fans pay artist ~$128/month on Open Music vs ~$9/month on Spotify.
Planned features:
- AI-powered sonic similarity discovery (no promoted slots or label budgets)
- Artist audience ownership (see who paid, how much, per cycle)
- Wallet-linked cross-platform artist identity
Team
Two full-stack developers with end-to-end ownership from Solana payment infrastructure to AI discovery to artist dashboard. Fundraise intended to hire third developer.
Relationship to KB
- futardio — fundraising platform used
- futarchy-governed-meme-coins-attract-speculative-capital-at-scale — challenges this claim by showing utility-focused futarchy launches can fail where meme coins succeed
- Demonstrates that futarchy mechanism alone does not guarantee capital attraction when underlying asset lacks speculative appeal