Can the Replace Color effect make parts of a sprite transparent?

Hi,

I would love to know if there is a way to set just a certain color or colors in a sprite to transparent. Since the Replace Color effect can change e.g. something red in a sprite to yellow, I wonder if it could make certain parts of a sprite transparent. If yes, how? Or is there another way (besides doing a sprite animation) or effect to achieve this?

Hi, unfortunately I don't think it is possible, since the input is only RGB and not taking into account the alpha.