Because the OP indicates the desirability of special textural features to the dot strikes, such as fading, the only option will be to build it up from scratch.
Here I show how that might be done.
First, you need to design your dot via \dmdot. I used the accepted answer at Customise fading in TikZ to design a dot strike that fades with opacity toward its outer fringe. Obviously the design can be changed to suit.
Then, once you are happy with the dot, you have to design the layout of each letter as a matrix of dots. I define two letters only as an example: "R" and "y", which are defined in \dotR and \doty. Because the space is active for these definitions, a leading space in any given dot row must be prepended with a {} to enable proper digestion of the data.
The matrix for any given letter is set with the macro \dotletter{<letter>}. However, to ease the input requirements, I have set up a token cycle environment \dotmatrix...\enddotmatrix which takes each letter of the environment and applies \dotletter to it. Thus, the user input for this example is \dotmatrix RyR\enddotmatrix.
The parameters that govern the dotsize, vertical dot gap, horizontal dot kern, the vertical subbaseline, and the letter sidebearing are defined, for example, with
\newcommand\dmdotsize{.025}
\newcommand\dmdotgap{1pt}
\newcommand\dmdotkern{.7pt}
\newcommand\dmdotbase{-2pt}
\newcommand\dmsidebearing{1.5pt}
These parameters can be tuned, as shown in the MWE for the 2nd case. The MWE shows a large version of the dot, so that one can see the fading that is applied by \dmdot.
\documentclass{article}
\usepackage{stackengine,tikz,tokcycle}
\usetikzlibrary{fadings}
\pgfdeclareradialshading{tikzfadeSid}{\pgfpointorigin}{%
color(0pt)=(pgftransparent!0); color(12.5bp)=(pgftransparent!0);
color(25bp)=(pgftransparent!50);
color(37.5bp)=(pgftransparent!95);
color(50bp)=(pgftransparent!100)}%
\pgfdeclarefading{custom fade out}{\pgfuseshading{tikzfadeSid}}%
\newcommand\dmdot[1][\dmdotsize]{%
\begin{tikzpicture}
\fill[black,opacity=0.9,path fading=custom fade out, draw=none] (0,0)
circle[radius=#1];
\end{tikzpicture}
}
\newcommand\dmdotsize{.025}
\newcommand\dmdotgap{1pt}
\newcommand\dmdotkern{.7pt}
\newcommand\dmdotbase{-2pt}
\newcommand\dmsidebearing{1.5pt}
\setstackEOL{\}
\setstackgap{L}{\dmdotgap}
\renewcommand\stackalignment{l}
\bgroup
\catcode`.=\active
\gdef.{\makebox[\dmdotkern]{\dmdot}}
\catcode32=\active%
\gdef {\kern\dmdotkern}%
\gdef\dotR{. . .\. .\. .\. . .\. .\. .\. .\\}%
\gdef\doty{. .\. .\. .\{} . . .\{} .\{} . ..}%
\egroup
\newcommand\dotletter[1]{\kern\dmsidebearing
\raisebox{\dmdotbase}{\expandafter\Longstack\expandafter{%
\csname dot#1\endcsname}}}
\xtokcycleenvironment\dotmatrix
{\addcytoks{\dotletter{##1}}}
{\processtoks{##1}}
{\addcytoks{##1}}
{\addcytoks{##1}}
{\kern 2\dimexpr\dmdotsize cm}
{\addcytoks{\kern-\dmdotsize cm}}
\begin{document}
\dmdot[.5]
R\dotmatrix RyR\enddotmatrix X
\renewcommand\dmdotsize{.023}
\renewcommand\dmdotgap{.9pt}
\renewcommand\dmdotkern{.5pt}
\renewcommand\dmdotbase{-1.8pt}
\renewcommand\dmsidebearing{1.4pt}
R\dotmatrix RyR\enddotmatrix X
\end{document}
