Looks like flip-book with subtractive painted frames, search for that techniques
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I agree. Looks like its all one texture too, rather than individual lightning streaks
Flipbook of bolts (don’t make just one big image, if that’s the case above… I don’t think it is).
Random spawn bolts… make the value on the left and top/bottom of your screen if you want the exact thing as above… random lifetime… looks like there’s a color shift from purple to pink as well, so you may need a central “white” bolt and the blurred outside of that bolt… you’ll have to get a little creative with the material to do the same things.
My thinking is this was probably done in After FX and if that’s the case it would just be a matter of drawing out your bolts and then putting in the animated BG and the little pulse of the exclamation point.
To bounce off everyone else here, it’s definitely hand-drawn flipbooks. Here’s an Artstation post of the studio that does many of their VFX, you can dig through to get a better idea of their work (they use Adobe Animate it seems):