DEADROP NFT buyers demand refunds as Midnight Society shuts down
DeadropFans of Dr Disrespect’s game studio, Midnight Society, are demanding refunds after the studio announced its closure and end of development for its game, DEADROP.
On Thursday, January 30, Midnight Society revealed that it was closing the studio entirely and laying off its development team.
This came just months after the team cut ties with Dr Disrespect back in June 2024 after he revealed that inappropriate messages to a minor on Twitch’s whisper system were what led to his 2020 ban from the platform.
After hearing about the closure, fans, and supporters of its game DEADROP flocked to social media to demand refunds of its accompanying Founders Pass NFT they purchased to help fund the game’s development.
DEADROP investors demand refunds
“Today we are announcing Midnight Society will be closing its doors after three incredible years, with an amazing team of over 55 developers contributing to our new IP DEADROP,” they said in the post announcing the studio’s closure.
In the days leading up to the announcement, OpenSea’s NFT database showed Founders Pass owners selling off their NFTs for less than half their initial $40 value.
Users flocked to the post’s replies to begin asking for NFT refunds, but the studio has yet to respond.
“Refund the NFT holders,” one user replied.
Another said: “Where does this leave the Founders?”
“So do we get refunds or nah?” commented a third.
In the hours after the announcement, the value of the Founders Pass NFT plummeted even further. According to OpenSea’s list of recent sales, many are going for around six dollars while one even went as low as $3.68.
This NFT gave users access to early snapshots of the game as Midnight Society worked to complete it, allowing owners the chance to influence its development throughout the months it was actively being made.
During the game’s peak, the price of the Founders Pass NFT went as high as $3,500, with many others selling just under that price point.