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>
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2.2 KiB
Markdown
40 lines
No EOL
2.2 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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website: "https://openmusic.art"
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twitter: "https://x.com/openmusic_art"
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platform: "Solana"
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key_metrics:
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fundraise_target: "$250,000"
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fundraise_actual: "$27,533"
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fundraise_platform: "Futardio"
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fundraise_outcome: "refunded"
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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 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.
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## Overview
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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%.
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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.
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## Timeline
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- **2025-Q2** — MVP launched at openmusic.art with artist upload and payout functionality
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- **2026-03-03** — Futardio fundraise launched, target $250,000
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- **2026-03-04** — Fundraise closed with $27,533 raised (11% of target), status: REFUNDING
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## Relationship to KB
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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.
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Raised through [[futardio]] on [[metadao]] infrastructure. |