Pizza drone release device
The drone release device used in Neistat’s video is called AirDrop FAD-1000, and it is made by FLiFLi. The device is designed to attach on the back portion of a Phantom 3 or Phantom 4 series drone, and the controller is used to retract a bar, which releases a payload. FLiFLi described their product to be operable at distances “more than 3,280 feet,” and it can work anywhere from 14 °F to 122 °F. The AirDrop FAD-1000 can be purchased on Amazon for $170.

Alternative drone drop system
A drone release system can actually be homemade for a lot less than $170. With some moldable thermoplastic and patience, anyone can create a low-cost drop system for a drone. Here’s a quick tutorial video on how to make your own drone release system:
Drone release systems, like the one featured in Neistat’s video, are mostly used for fishing, but they can also be used for lightweight deliveries. Just like any piece of technology, it’s ultimately up to the individual to use it for good, so make sure to be responsible when using a drone release device.