The world’s first NFT image collection based on Microsoft Excel went on sale as part of a fundraising campaign for victims of the war in Ukraine.
On behalf of Datarails, a financial planning platform tightly integrated with Excel, the five pixel art works feature portraits of Ukrainian President Volodymyr Zelensky and other scenes from the conflict.
While Excel graphics itself is nothing new, and others have already turned spreadsheet doodle into NFT before, selling Datarails is the first time an XLS file (the typical Microsoft Excel file format) has been tokenized and placed on a blockchain.
NFT, but different
NFT or non-exchangeable tokens are a type of collectible items that demonstrate ownership of a specific digital asset, whether it’s an image, movie, or piece of music. While the asset itself is free to replicate and share, the associated NFT is unique and can be traded on the secondary market.
However, the NFTs have been the subject of much criticism since they made their way into the public eye last year. Some people bought NFTs at exorbitant prices with the implied promise of a return on capital, just for their own vertical valuation (opens in a new tab)while others have their tokens were stolen by scammers and hackers.
The NFT revolution was also going to give emerging artists a new way to monetize their work. But they were also often used by celebrities and other high-profile individuals as a way to earn money quickly.
Nevertheless, Datarails believes that selling NFTs is an ideal tool to generate funds for a good cause. In this scenario, the NFTs are not investment vehicles but rather an addition to a traditional donation.
“Excel is the canvas that anyone in finance uses to generate ideas, innovations, and financial models. In this experiment, we took the concept a step further, ”said Didi Gurfinkel, Co-Founder and CEO of DataRails.
“Excel has literally been used as a palette to create a one-of-a-kind experience for CryptoArt and spreadsheet enthusiasts. We hope that this project will help to showcase the broad canvas of Excel while raising funds for the plight of the people of Ukraine ”.
Each NFT will be traded at 1 ETH, which is currently around $ 1,900. In total, sales should therefore generate nearly $ 10,000, all of which will be donated to Heart to Heart International, a non-profit organization dedicated to improving access to healthcare worldwide.
When asked why DataRails chose Heart to Heart International to receive the proceeds from the sale of the NFT, rather than many other charities supporting the victims of the war in Ukraine, Gurfinkel replied:
“Heart to Heart International is a fantastic charity with a mission we believe in. It improves access to healthcare worldwide by providing equitable and high-quality care in medically underfunded communities and in disaster areas, including the situation in Ukraine ”.
To view or buy NFT Microsoft Excel, please visit DataRails here (opens in a new tab).