You can get that kind of nice sharp not-so-blocky edges as seen in Naruto by having alpha test on a bilinearly filtered but otherwise non-used alpha channel, which is what the game seems to do. It should be typically alpha-test-pixelly though but it looks like you have some antialiasing enabled that smooths it out.
Digimon just seems to have a nicely detailed texture with a good alpha channel, and makes sure to not get black fringing by either using premultiplied alpha or by being very careful with how the alpha'd out parts of the texture are colored.
Digimon just seems to have a nicely detailed texture with a good alpha channel, and makes sure to not get black fringing by either using premultiplied alpha or by being very careful with how the alpha'd out parts of the texture are colored.