m3taversal
8122c1e7d8
Fundraise records (13 new — borderline threshold >$900 committed): - mycorealms ($158K+$82K), send-arcade ($115K), open-music ($27.5K) - areal ($11.7K+$1.4K), valgrid ($8.5K), sizematters ($5K) - launchpet ($2.1K), seekervault-2 ($2.1K), tridash ($1.7K) - cloak ($1.5K), nfaspace ($1.4K), lobsterfutarchy ($1.2K) - futarchy-arena ($934) All failed to meet funding targets. All include full proposal text. Entity files (3 new): - jito.md: MEV infrastructure + liquid staking + restaking on Solana. JTO token, $2.1B TVL, 94% validator share. First futarchy use: JIP-10 TipRouter decision (Jan 2025). Founded by Lucas Bruder & Zanyar Sherwani. - kyros.md: Liquid restaking on Jito infrastructure. kySOL/kyJTO products, $36M TVL. Mint authority delegated to MetaDAO futarchy. Burned 4.42M unclaimed airdrop tokens via futarchy (Jan 2026). - marinade.md: Oldest Solana liquid staking protocol (2021). mSOL, SAM validator marketplace, $740M TVL. First futarchy use: MIP.5 SAM bid routing (Feb 2025). Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
190 lines
6.3 KiB
Markdown
190 lines
6.3 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "Open Music: Futardio ICO Launch"
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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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proposer: "Open Music team"
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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: "launch"
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summary: "Open Music raised $27.5K against $250K target (11% fill rate) for an artist-first streaming platform on Solana — failed and refunded"
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tracked_by: rio
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created: 2026-03-24
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---
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# Open Music: Futardio ICO Launch
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## Summary
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Open Music, an artist-first streaming platform on Solana that replaces Spotify's pro-rata pool model with direct fan-to-artist payments, attempted to raise $250K through a Futardio ICO. The project attracted only $27.5K in commitments (11% fill rate), making it one of the weakest-performing launches in the v0.7 cohort. The launch failed and all funds were refunded.
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## Market Data
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- **Outcome:** Failed (Refunding)
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- **Total Committed:** $27,533
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- **Funding Target:** $250,000
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- **Fill Rate:** 11.0%
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- **Duration:** 2026-03-03 to 2026-03-04
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## Significance
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Open Music's 11% fill rate represents one of the weakest commitments in the v0.7 Futardio cohort, despite addressing a real problem (Spotify's $0.003/stream payout to artists). The ambitious $250K target for a two-person team with an MVP at openmusic.art suggests a disconnect between the project's stage and its fundraise ask. The roadmap listed milestones dating back to Q2 2025 — well before the March 2026 launch — which may have signaled execution concerns to potential backers.
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## Relationship to KB
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- [[open-music]] — parent entity
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- [[metadao]] — ICO platform
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## Full Proposal Text
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*Source: futard.io, launched 2026-03-03*
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# Open Music — Artist-First Streaming on Solana
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## The Problem
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Spotify made $20 billion last year. The average artist got $0.003 per stream.
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That's not a royalty. That's a rounding error.
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The pro-rata pool model means your streams compete against every other stream on the platform.
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The top 1% extracts most of the value. Everyone else gets a mystery deposit and no explanation.
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Artists don't own their audience. They don't know who's listening.
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They can't contact their fans. The platform owns that relationship — and rents it back to you via algorithm.
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Discovery is pay-to-play. Label money gets pushed. Independent artists fight for scraps.
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**This isn't a flawed system. It's a system working exactly as designed — just not for you.**
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---
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## The Solution
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Open Music replaces the pool with a direct model.
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Every subscriber's payment goes **only** to the artists they personally listened to that month.
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Not split across millions of tracks. Directly to you, proportional to your listeners' time.
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| | Spotify | Open Music |
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|---|---|---|
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| Model | Pro-rata global pool | Your listeners only |
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| Platform cut | ~30% | 10% |
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| Payout breakdown | None | Full — per listener |
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| Payout method | Bank (high minimums) | USD wallet + USDC / Solana |
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### What 100 fans actually pays you:
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- **Spotify:** ~$9/month
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- **Open Music:** ~$128/month
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The difference isn't a rounding error. It's a different system entirely.
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### Three shifts that matter:
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**01 — Money flows directly to you**
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No pool. No mystery. Your listeners' subscription goes to you based on their listening, every cycle.
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**02 — Your audience is yours**
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You see who's listening, who paid you, and how much. No black box. No algorithm controlling your reach.
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**03 — Discovery based on sound, not budget**
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AI-powered sonic similarity matches your music to listeners based on what it actually sounds like.
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No promoted slots. No gatekeepers. No label budget required.
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---
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## Traction
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- MVP is live at openmusic.art
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- Artists can upload and receive payments today
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- Early community forming — artists onboarding as co-builders, not beta testers
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- Built on Solana — payouts in USD wallet + USDC
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---
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## Team
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Two full-stack developers with end-to-end ownership of the product —
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from Solana payment infrastructure to the AI discovery layer to the artist dashboard.
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Raise funds will be used to bring on a third developer to accelerate delivery.
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No VC. No label. No outside agenda. Built by people who were tired of waiting for the industry to fix itself.
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---
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## Use of Funds
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**Raise target: $250,000**
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**Monthly burn: ~$25,000**
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**Runway: ~10 months**
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| Category | Monthly | % |
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|---|---|---|
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| Engineering (2 devs + 1 hire) | $18,000 | 72% |
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| Infrastructure & Solana RPC | $4,000 | 16% |
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| Growth & Artist Acquisition | $2,000 | 8% |
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| Legal, Ops & Contingency | $1,000 | 4% |
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Capital is lean by design. Every dollar goes toward shipping and artist onboarding —
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not marketing spend or vanity metrics.
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---
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## Roadmap & Milestones
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### Q2 2025 — Foundation
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- Stable artist upload + payout flow
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- Direct fan-to-artist payment model live
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- 50 founding artists onboarded
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- Solana USDC payout integration
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### Q3 2025 — Discovery
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- AI sonic similarity engine (v1)
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- Listener-facing discovery feed
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- Artist dashboard: who paid, how much, per cycle
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- Fan subscription management
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### Q4 2025 — Scale
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- Mobile-optimized experience
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- Artist analytics + audience ownership tools
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- 500 active artists
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- Governance layer + OM token utility
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### Q1 2026 — Ecosystem
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- Open API for third-party integrations
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- Label / collective tooling
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- Cross-platform artist identity (wallet-linked)
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- 2,000+ artists, measurable payout delta vs Spotify
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---
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## Market & Differentiation
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**Target market:**
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- Independent artists with existing listeners (1K–100K monthly streams)
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- Solana-native creators and music NFT communities
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- Fans who want their subscription to actually reach their artists
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**Why now:**
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The creator economy backlash against platform extraction is at a peak.
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Artists are actively looking for alternatives. The infrastructure (Solana, USDC, AI)
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now makes a direct model viable at scale for the first time.
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**Competitive edge:**
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| | Spotify | Bandcamp | Sound.xyz | Open Music |
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|---|---|---|---|---|
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| Direct payout model | X | Partial | Partial | Y |
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| Subscription-based | Y | X | X | Y |
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| AI sonic discovery | X | X | X | Y |
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| Artist owns audience | X | X | X | Y |
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| Onchain / Solana | X | X | Y | Y |
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No one else combines the subscription model, direct payout,
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AI discovery, and audience ownership in a single platform.
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**That's the moat.**
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