Yes, but most are not big enough to warrant a dedicated VFX artist so most of them just go with assetpacks and traditional techniques.
There are quite a few engine specific things to consider as well which complicates the discussion. In Unity, out of the box you can’t use any pivot offsets or it’ll freak out in VR while Unreal has functionality built in to compensate. Everyone who’s developing for VR is finding the way as they go, a bit like general RTVFX did say 5 - 10 years ago.
Use meshes where possible.
Compensate for Roll.
When close, don’t use high alpha sprites.
Small particles hanging in the air always feel cool due to parallax.
If possible, compensate for both cameras with sprites made for it.
For performance: WWTPS2D (What Would The PlayStation 2 Do) with this effect.