776577146a
- 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>
2.2 KiB
| type | entity_type | name | domain | status | founded | website | platform | key_metrics | tracked_by | created | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | company | Open Music | internet-finance | failed | 2025 | https://openmusic.art | https://x.com/openmusic_art | Solana |
|
rio | 2026-03-11 |
Open Music
Artist-first music streaming platform built on Solana that attempted to replace Spotify's pro-rata pool model with direct listener-to-artist payments. Raised only 11% of target ($27,533 of $250,000) through Futardio futarchy-governed launch before refunding.
Overview
Open Music proposed a streaming model where subscriber payments go directly to artists they listen to, rather than into a global pool. Positioned as solving the "$0.003 per stream" problem where Spotify made $20B while artists earned minimal royalties. The platform claimed 100 fans would pay artists ~$128/month vs ~$9/month on Spotify through eliminating the pool model and reducing platform cut from ~30% to 10%.
MVP was live at openmusic.art with upload and payment functionality. Team consisted of two full-stack developers with plans to hire a third. Raise funds were allocated 72% to engineering, 16% to infrastructure, 8% to growth, 4% to legal/ops, targeting ~10 months runway at $25K/month burn.
Timeline
- 2025-Q2 — MVP launched at openmusic.art with artist upload and payout functionality
- 2026-03-03 — Futardio fundraise launched, target $250,000
- 2026-03-04 — Fundraise closed with $27,533 raised (11% of target), status: REFUNDING
Relationship to KB
Demonstrates that futarchy-governed launches (futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility) do not automatically attract capital even with substantive documentation and clear value proposition. Challenges the claim that futarchy-governed-meme-coins-attract-speculative-capital-at-scale by showing utility tokens fail to attract capital through the same mechanism that succeeded for meme coins like CULT.