Effectively, this is one of the systems trying to deal with works of art, copyright, and digital copies -- it's an implementation of the StreetPerformerProtocol. After some weeks the work passes into the public domain.
I'm certainly not going to donate anything if that money may just sit in escrow for years (after open culture's 10% cut is extracted). A user-driven period of conditional donations might be an interesting addition. (I'll donate 50 bucks if the total is reached within a month, otherwise forget it).
At the moment the time span between the release to the people who paid up front and the release to the public domain is several weeks. This may invite people to wait longer until others paid the remaining amount. Perhaps that means that it should be unclear how much money is still missing? Or perhaps that means that this time period needs to be longer? Or zero?
Our laboratory is organizing an economy for working openly. http://www.ms.lt/openwork/ We invite all who would like to join our working group. We feel that "wealth is relationships", and an open market should emphasize this. Our paper "An Economy for Giving Everything Away" http://www.ms.lt/en/workingopenly/givingaway.html includes a review of six such markets for open source software. The most similar to Open Culture is CoSource?, where similarly people pooled their money together. Such markets as a rule end after 20 completed projects, presumably because the organizers have to, or want to, move on. That's why we're trying to focus more on the relationships - we've started a market for services of our members under licenses benefiting the public wealth http://www.ms.lt/serving.html Andrius Kulikauskas