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>
49 lines
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2 KiB
Markdown
49 lines
No EOL
2 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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raise_outcome: "refunding"
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team_size: "2 full-stack developers"
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monthly_burn: "$25,000"
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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 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.
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## Timeline
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- **2025** — MVP launched at openmusic.art with artist upload and payment functionality
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- **2026-03-03** — Futardio fundraise launched targeting $250K with 10-month runway plan
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- **2026-03-04** — Fundraise closed in refunding status after raising only $27,533 (11% of target)
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## Business Model
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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.
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**Value proposition:** 100 fans pay artist ~$128/month on Open Music vs ~$9/month on Spotify.
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**Planned features:**
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- AI-powered sonic similarity discovery (no promoted slots or label budgets)
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- Artist audience ownership (see who paid, how much, per cycle)
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- Wallet-linked cross-platform artist identity
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## Team
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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.
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## Relationship to KB
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- [[futardio]] — fundraising platform used
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- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — challenges this claim by showing utility-focused futarchy launches can fail where meme coins succeed
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- Demonstrates that futarchy mechanism alone does not guarantee capital attraction when underlying asset lacks speculative appeal |