Unity – Change Text UI alpha color from script?

Try using Lerp. As long as you set the ‘alpha’ of ‘newColor’ to 0, text will fade out.

 public Text example;
 public Color newColor;
 public float fadeTime = 0.1f; //maybe rename this to fadeSpeed

 //this should be called somewhere in Update
 void FadeOut()
 {
    example.color = Color.Lerp(example.color, newColor, fadeTime * Time.deltaTime);
 }

EDIT: Using coroutines

void CallingMethod()
{
    StartCoroutine(FadeOut());
}

//note the change from 'void' to 'IEnumerator'
IEnumerator FadeOut()
{
    //ugly while, Update would be ideal
    while (example.color.a > 0)
    {
        example.color = Color.Lerp(example.color, newColor, fadeTime * Time.deltaTime);
        yield return null;
    }
    //code after fading is finished
}