HNT’s Price Largely Unmoved By Helium’s 'Users' Controversy
The price of helium (HNT), the native token of Helium, a developer of a "decentralized wireless infrastructure," seems to be moving together with the market despite the recent reports suggesting that the project promoted fake partnerships with two major tech companies who say they are not collaborating with Helium’s parent company.
Since July 29, when the reports first appeared, HNT was even moving higher before correcting lower on Sunday as the whole crypto market trimmed its gains.
HNT price chart:
At 08:39 UTC, HNT, ranked 52nd by market capitalization on CoinGecko.com, traded at USD 9.26 and was down almost 2% in a day and was unchanged in a week. The price was also up almost 2% in a month and down 33% in a week.
The wireless network service boasted rideshare business Lime and leading customer relationship management specialist Salesforce were among its prime customers, and included their logos on its website. This claim, however, has been rejected by both companies.
“Beyond an initial test of its product in 2019, Lime has not had, and does not currently have, a relationship with Helium,” Russell Murphy, Senior Director for corporate communications at Lime, told Mashable.
While there was a “brief test of [Helium's] product that didn’t last beyond a month or two” in the summer of 2019, there has been no contact between Helium and Lime since then, according to Murphy. The director said that, as a condition of the trial, Lime had asked Helium that its name not be used in any promotional materials.
Despite this, Helium included Lime’s logo on its site, where it also stated it was “trusted by” Lime. (At the time of writing, Lime and Salesforce are seemingly removed from Helium's website.)
“Helium has been making this claim for years and it is a false claim,” Murphy was quoted as saying. His company is said to be preparing to file a cease and desist to Helium over its use of the rideshare service’s name and logo on its site and in its marketing material.
Helium’s activities have elicited a similar rejection by Salesforce, another company to deny it was using the project’s products.
“Helium is not a Salesforce partner,” Ashley Eliasoph, a spokesperson for Salesforce, told The Verge, adding that the graphic included on Helium’s site which identified the customer relationship management specialist as its customer “is not accurate.”
“Since the Network launched in 2019, we’ve worked with a variety of companies on various applications and pilots. In the case of the brands mentioned in recent articles, we had approvals to talk about the use cases but we’re going to be much more rigorous now about the logo approval process going forward to avoid any confusion. Both Nova and our partner the Helium Foundation, have removed the reference,” a spokesperson for Nova Labs, the company behind the Helium blockchain, told Cryptonews.com.
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(Updated on August 3 at 07:20 UTC with a comment from Nova Labs.)