Microtransactions have been with games as long as Arcades have existed. I fondly remember requiring all of the quarters I could find in my house in order to make serious attempts at beating certain arcade beat'em ups.

The microtransaction being, "Would you like to continue?" After using your two lives which get expended from just a few hits as you try to progress through the hordes of baddies in the 14 level game, also replete with bosses that kill you in a single hit.

The more lenient games letting you have 3 continues before pumping you for more money!