DEADROP NFT price plummets after Dr Disrespect accusations & studio shutdown

Throughout 2024 and into early 2025, DEADROP – the game being developed by Midnight Society, of which Dr Disrespect was a founding member – has suffered significantly, resulting in the studio shutting up shop on January 30, 2025. However, the players who bought in have suffered financially, too, as the NFT prices have absolutely plummeted.

In early 2022, after Midnight Society had been announced and some hype had started to build for this game, pioneered by Dr Disrespect, the studio launched its Founders Access Pass.

For $50 each, 10,000 players could get a ‘Variant’, which was essentially a character in the game, with a number of unique characteristics and looks, all with different levels of rarity.

These all sold to fans and players who wanted to get a first look at the game and be in before it took off. Of course, this didn’t happen.

Price drop after Midnight Society shut down

In the hours after Midnight Society announced they would be ending operations, the value of the Founders Access Pass NFTs dropped significantly – by around 80% and counting.

At 6 PM on January 30, the average price of the 10 sales of these passes was 0.0076 Ethereum (ETH), or approximately $25. Not 12 hours later, by 4 AM, the average sale price was 0.0015 ETH, or just under $5.

Obviously, this was after the announcement, so the price dropping is somewhat obvious – even though they were selling for around half of the original $50.

But when you look at the bigger picture, the drop has been even more drastic.

Dr Disrespect accusations cause huge decline

On June 21, 2024, a former Twitch staffer posted on Twitter/X, and while no names were mentioned, the insinuation was heavily that Dr Disrespect was banned from Twitch for admitting to messaging a minor.

Within the next few days, a number of reports came out, including an admission from the Doc himself that he had sent messages to a minor that “sometimes leaned too much in the direction of being inappropriate.”

He later edited that part of his statement out of his post, and eventually deleted the post altogether.

Interesting that Dr Disrespect edited the word ‘minor’ out of his original statement. pic.twitter.com/HXvYO2Nn4y

— Jacob Hale (@JakeHaleee) June 25, 2024

However, the impact on the price of these Founders Passes – which had already soared down massively since their peak in March 2023 – was almost immediate.

As you can see in the graph below, on June 10, 2024, the average sale price was around 0.1927 ETH (approx. $640 at the time of writing). Just two weeks later, on June 24, the average was 0.043 ETH ($143).

Of course, there was a bit of an uptick in the weeks following, before a slow descent downwards that has never really recovered, right up until the present day where sellers are hoping just to get $5 back.

In their announcement, Midnight Society did not reveal any details or plans to pay back players who had purchased a Founders Access Pass.