For the past few years, Swetha Yenugula has regularly and frequently shared her .XYZ domain name sales. The value of her sales coupled with the velocity of her sales has led to some skepticism about the veracity of her sales. A bit of skepticism about domain name sales is healthy. It can drive people to investigate reported sales to weed out bad actors who may be inclined to report fake sales. The feedback Swetha has received has gone well beyond a healthy skepticism, and it is unfortunate.
To date, I have not seen any evidence to refute any of Swetha’s reported domain name sales. In fact, over the last few days, Swetha’s sales have been confirmed by multiple third parties.
On Sunday, NameBio’s Michael Sumner published an article about Swetha’s sales on Afternic. Swetha provided Michael with her Afternic login and password to allow Michael to verify her sales on the platform. This must have felt invasive. Every one of Swetha’s sales were verified by Michael. In fact, after reviewing her records, Michael wrote, “Thus I now feel 100% confident in all her reports, not just the Afternic ones.”
In addition to selling 7 figures worth of domain names on Afternic year to date, Swetha has also done a substantial volume of business on Dan.com. On Twitter, Swetha requested that Dan.com Founder Reza Sardeha vouch for her sales. After all, Swetha was likely one of the top sellers on the platform. Reza did just that:
I would 100% vouch for you. You’re a true inspiration to many domainers and please ignore the haters. Keep building, growing and sharing!
— Reza Sardeha (@rsardeha) November 27, 2022
Some people have also questioned if Swetha or her company have some undisclosed relationship with the .XYZ Registry. Some people have speculated about whether the .XYZ Registry or a related entity, employee, officer, or someone else connected with the registry funded her business, fund her operations, or are involved with her portfolio in some invisible manner. Swetha already denied any special connections to the Registry or its team, but it’s very difficult to prove something doesn’t exist.
I reached out to .XYZ Registry CEO and Founder Daniel Negari to see if he or his team could offer a comment about this. Daniel shared the following statement with me:
“XYZ nor any related officer or entity of XYZ has any relationship with Swetha or her company.
I find it distasteful that people like Rick Schwartz / Castello Bros use their platform to cast doubt on the success of a true entrepreneur because she is making money from .xyz instead of .com.
The fact that Swetha is a woman living in India breaking barriers by crushing it in the male-dominated domain industry is nothing less than inspiring. She should be lauded for her openness and willingness to participate in removing the doubt cast on her work and capabilities.
XYZ has a unique position on domain investors. We fully appreciate the evangelists like Swetha promoting the usage of the namespace – .xyz was created for everyone, everywhere, which includes investors. However, we don’t actively seek to promote .xyz domains as a speculative investment. We focus on encouraging the next generation of the internet to register and use .xyz domains as an alternative to .com.
Targeting the #1 spot on the internet means making some enemies. In the early days, not having support from domain investors created a vacuum of opportunity for the first 0 – 3 million names in the .xyz zone to be discovered, registered and used primarily by end users. Some speculation did occur along the way, and many of those brave investors have been rewarded. At the same time, those investors have been able to offer .xyz domains to end users at relatively small premiums compared to the .com equivalent, which might cost 5 to 50x more in the aftermarket.
With conviction and foresight – Swetha and the new wave of #genxyz registrants are paving the way – and I’m supportive of and encouraged by their resilience and success.”
Before .XYZ domain names were in high demand, it appears that Swetha bought thousands of the most in-demand keyword .XYZ domain names. As this market grew with demand from Web3 and crypto-related companies, Swetha continued to sell and raise her asking prices. She also appears to continue to buy domain names. Swetha has made a great deal of money and still owns a portfolio of valuable .XYZ domain names.
Just as Rick Schwartz has done with his .com domain name sales throughout the years, Swetha is reporting her .XYZ sales to inform the market. Comparable domain name sales give buyers confidence, and sharing large .XYZ sales will help her sell other domain names.
I built a small portfolio of .XYZ domain names with Embrace.xyz serving as my sales venue. Other than the one .XYZ domain name I sold before launching the site, I have not sold any others. I wish I had the foresight to register good keyword .XYZ domain names that can serve as brands, but I appreciate that Swetha has been sharing her sales. I am still on the hunt for good .XYZ domain names with no premium renewal fees.
I don’t think Swetha can do anything more to mollify the naysayers who are criticizing her and casting aspersions on her success. As far as I am concerned, Swetha is one of the most successful domain investors and it’s about time people stop spreading rumors without actual evidence to back it up.