[Animats]

> microtransactions exist within the realm of individual video games already though.

Yes. That does work.

Linden Lab, the people behind Second Life, spun off their money system as a startup, called TiliaPay.[1] Tilia obtained money transfer licenses, linked up with JPMorgan Chase Payments, and offered a system where you could process a 2 cent transaction with acceptable operating costs. Unlike most "game points" programs, users can trade with each other and cash out in dollars. That's why they had to become a regulated financial operation.

It never took off. It does work, but Second Life and, to some extent, VRChat are the only real customers.

[1] https://www.tilia.io/