634ff8e89b
- 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>
58 lines
2.5 KiB
Markdown
58 lines
2.5 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "Futardio: Open Music Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[open-music]]"
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platform: futardio
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proposal_url: "https://www.futard.io/launch/4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu"
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proposal_date: 2026-03-03
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resolution_date: 2026-03-04
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category: fundraise
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summary: "Artist-first streaming platform fundraise seeking $250K, raised $27.5K before refunding"
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key_metrics:
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raise_target: $250000
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total_committed: $27533
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shortfall_percent: 89
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duration_days: 1
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token: 4Hj
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token_mint: 4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta
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launch_address: 4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu
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tracked_by: rio
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created: 2026-03-11
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---
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# Futardio: Open Music Fundraise
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## Summary
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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.
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## Market Data
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- **Outcome:** Failed (refunded)
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- **Capital committed:** $27,533 / $250,000 (11%)
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- **Duration:** 1 day (2026-03-03 to 2026-03-04)
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- **Token:** 4Hj
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- **Platform version:** v0.7
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## Significance
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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.
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Raise failure occurred despite:
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- Live product (openmusic.art)
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- Clear unit economics (14x payout improvement)
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- Technical infrastructure (Solana payments, AI discovery)
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- Experienced team (2 full-stack developers)
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- Realistic financial planning
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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.
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## Relationship to KB
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- [[open-music]] — parent entity
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- [[futardio]] — launch platform
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- [[futarchy-variance-creates-portfolio-problem-because-mechanism-selects-both-top-performers-and-worst-performers-simultaneously]] — confirms variance claim
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- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — challenges with counter-evidence
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