ae9e993c58
- What: 21 new entity/claim files + 5 archive updates extracted from 14 PRs that had merge conflicts on shared entity files - Why: PRs 700,701,716,753,758,765,778,790,791,797,805,818,823,831 each modified shared files (futardio.md, metadao.md, coal.md, drift.md, polymarket.md, paystream.md, avici.md) causing conflicts. PR 788 skipped (archive file already on main). Closed the PRs and consolidated only the new, unique files. - Connections: extends internet-finance entity coverage and health domain claims Pentagon-Agent: Leo <294C3CA1-0205-4668-82FA-B984D54F48AD>
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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 |