Microsoft officially did away with Microsoft Points on Monday through an Xbox 360 software update, available now in the U.S., that converts the alternate currency into real money. The update process took about five minutes on Polygon’s office Xbox 360, and afterward we could detect no change in the appearance of the console’s Dashboard — aside from prices being listed in U.S. dollars instead of Microsoft Points. The first time we tried to buy a game after updating our Xbox 360, the console took us through a few screens in which it converted our existing balance of 120 Microsoft Points to its equivalent in dollars, $1.50. According to Microsoft’s FAQ on the transition, the currency that is converted at this time will be valid until June 1, 2015. As you can see in the gallery below, content prices are now listed in dollars plus tax.