644bbe72ce
- 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>
33 lines
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1.1 KiB
Markdown
33 lines
No EOL
1.1 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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tracked_by: rio
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created: 2026-03-11
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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: "refunded"
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launch_date: "2026-03-03"
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close_date: "2026-03-04"
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oversubscription_ratio: 0.11
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---
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# Open Music
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Artist-first music streaming platform built on Solana that attempted to replace Spotify's pro-rata pool model with direct fan-to-artist payments. Raised through Futardio but failed to reach funding target and refunded backers.
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## Timeline
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- **2026-03-03** — Launched $250K raise on Futardio with direct payment model where subscriber payments go only to artists they listen to
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- **2026-03-04** — Raise closed at $27,533 (11% of target), status: refunding
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## Relationship to KB
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- [[futardio]] — fundraising platform
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- Example of futarchy-governed raise that failed to attract sufficient capital despite novel value proposition
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- Demonstrates market validation function: direct payment model did not attract enough early supporters to reach minimum viable funding |