The world’s first Microsoft Excel-based NFT art collection has gone on sale as part of an effort to raise funds for the victims of the war in Ukraine.
Commissioned by Datarails, a financial planning platform that integrates closely with Excel, the five pieces of pixel art include portraits of Ukrainian President Volodymyr Zelensky and other scenes from the conflict.
Although Excel art is nothing new in itself, 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 demonstrates ownership of a particular digital asset, whether that be an image, video or piece of music. Although the asset itself can be freely replicated and shared, the associated NFT is unique and can be traded on the secondary market.
However, NFTs have been the target of plenty of criticism since exploding into the public consciousness last year. Some people purchased NFTs at extortionate prices on the implied promise of capital returns, only for their valuation to plummet (opens in new tab), while others have had their tokens stolen by scammers and hackers.
The NFT revolution was also supposed 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 individuals as a means of turning a quick buck.
Nonetheless, Datarails believes its NFT sale is the ideal vehicle for generating funds for a good cause. In this scenario, the NFTs are not investment vehicles, but more like a perk attached to a traditional donation.
“Excel is the canvas used by anyone 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 at DataRails.
“Excel has literally been used as a palette to produce a one-of-a-kind experience for CryptoArt and spreadsheet enthusiasts to own. We hope this project will help show the broad 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 roughly $1,900. In total, the sale should therefore 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 worldwide.
Asked why DataRails chose specifically for Heart to Heart International to receive the proceeds of the NFT sale, over 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 fantastic charity whose mission we believe in. It improves healthcare access around the world by ensuring quality care is provided equitably in medically under-resourced communities and in disaster areas including the situation in Ukraine.”
To view or purchase the Microsoft Excel NFTs, visit the DataRails website here (opens in new tab).