It seems I’m a bit late for this one but I’ll post what I have anyways…
The shader can be made by mixing(LERP) white with transparency using Fresnel as the mix factor. The Fresnel value I used for the following animation is 1.05
Even though I used Blender for this, there is nothing here that is specific to Blender so you can do this with any package.
First, here is the result…
Next is an image showing the material setup.(Sorry, I forgot to clean it)
As for the rest, the object is an ordinary sphere with roughly 200 triangles that has noise applied to the vertex displacement, you could use animated noise. (For this proof of concept I just moved the object through stationary noise instead.)
There is a subdivision surface modifier being applied after the displacement. I did that so the Fresnel effect would come out cleaner.
The sprite sheet setup is more involved since I don’t think Blender has anything like that built in. (I would likely just export all the frames as standard still renders using an orthographic camera then load them all back in again using “Import Images as Planes” addon. Using grid-snapping, once they are all aligned like a flipbook the whole thing can be rendered again using an orthographic camera.
For someone who is doing that all the time, it would be better to make the necessary Python modifications to Addon so it’s default setup is more suitable for spritesheets.