Fans of Dr Disrespect’s game studio, Midnight Society, are voicing their frustration and demanding refunds following the studio’s recent announcement regarding its closure and the discontinuation of its game, DEADROP.
On Thursday, January 30, Midnight Society confirmed the shutdown of its operations and the layoff of its entire development team. This shocking news comes just months after the studio severed ties with Dr Disrespect, shortly after allegations surfaced about inappropriate communications he had with a minor via Twitch’s messaging system, which contributed to his ban from the platform in 2020.
The news of the studio’s closure has spurred fans and supporters of DEADROP to take to social media, collectively demanding refunds for their Founders Pass NFTs, which were intended to support the game’s development.
Investors Seek Refunds for the Founders Pass
In their closure announcement, Midnight Society stated, “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.” This commitment to transparency, however, has not quelled the rising tide of refund requests from investors.
Leading up to the studio’s announcement, there was a noticeable decline in the value of Founders Pass NFTs on OpenSea’s marketplace. Many holders were forced to sell their NFTs for significantly less than the original price of $40.
— Midnight Society (@12am) January 30, 2025
In the aftermath of the announcement, users inundated the studio’s social media post, asking for their NFT refunds, but as of now, the studio has not provided any official response.
Comments included:
- “Refund the NFT holders, ”
- “Where does this leave the Founders?”
- “So do we get refunds or nah?”
As the situation developed, the value of the Founders Pass NFT continued to decline. Reports indicate that many NFTs were selling for as low as six dollars, with one instance recorded at just $3.68.
The Founders Pass provided holders early insights into the game’s progress, giving them the unique opportunity to influence the game’s development while it was actively in production. During the height of its popularity, the Founders Pass NFT’s market price soared to over $3, 500, capturing a significant interest from investors and gamers alike.
With the sudden closure of Midnight Society, many are now reflecting on the uncertainties surrounding the cryptocurrency and NFT market, particularly concerning the long-term viability and value of digital assets.
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