The world’s first Microsoft Excel-based NFT art collection has gone on sale as part of an effort to raise money for victims of the war in Ukraine.
Commissioned by Datarails, a financial planning platform that integrates tightly with Excel, the five pixel artworks include portraits of Ukrainian President Volodymyr Zelensky and other scenes from the conflict.
While Excel art is nothing new per se, and others have turned spreadsheet doodles into NFTs before, the Datarails sale marks the first time an XLS file (the typical Microsoft Excel file format) has been tokenized and placed on a blockchain.
NFTs, but different
NFTs, or non-fungible tokens, are a type of collectible that shows ownership of a particular digital asset, whether it’s a photo, a video, or a piece of music. Although the asset itself can be freely replicated and shared, the associated NFT is unique and tradable on the secondary market.
However, NFTs have been the target of much criticism since they exploded into the public consciousness last year. Some people bought NFTs at high prices on the implied promise of capital returns, just for their own sake appreciation to plummet (opens in a new tab)while others have had their tokens stolen by fraudsters and hackers.
The NFT revolution was also meant to give up-and-coming artists a new way to monetize their work. But they have also often been used by celebrities and other high profile people as a means of making money.
Nevertheless, Datarails believes that the NFT sale is the ideal vehicle to generate funds for a good cause. In this scenario, the NFTs are not investment funds, but more like a benefit linked to a traditional donation.
“Excel is the canvas used by everyone in finance to create ideas, innovation and financial models. In this experiment, we took this concept a step further,” said Didi Gurfinkel, co-founder and CEO of DataRails.
“Excel has literally been used as a palette to produce a unique experience for CryptoArt and spreadsheet enthusiasts to own. We hope this project will help show the wide canvas of Excel while raising funds for the plight of those in Ukraine.” »
Each NFT will be sold at a price of 1 ETH, which currently equates to approximately $1,900. In total, therefore, the sale should generate close to $10,000, all of which will be donated to Heart to Heart International, a non-profit dedicated to improving access to healthcare services worldwide.
When asked why DataRails specifically chose Heart to Heart International to receive the proceeds from the NFT sale, rather than the many other charities working to support the victims of the war in Ukraine, Gurfinkel had the following to say:
“Heart to Heart International is a wonderful charity whose mission we believe in. It improves access to healthcare around the world by ensuring that quality care is provided equitably in medically under-resourced communities and in disaster areas, including the situation in Ukraine.”
To view or purchase Microsoft Excel NFTs, visit the DataRails website here (opens in a new tab).
