To change the opacity (alpha) of an object in Adobe Animate, you need to convert it into a symbol first. Here's how:
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Select the object(s) you want to change the opacity of. Make sure everything you want to be affected is selected on the layer.
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Convert to Symbol: Press the F8 key. This will open the "Convert to Symbol" dialog box.
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Name the Symbol: Give your symbol a descriptive name (e.g., "FadingRectangle").
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Choose Symbol Type: Select either "Movie Clip," "Button," or "Graphic" as the symbol type. "Movie Clip" is generally the most versatile. Click OK.
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Access the Properties Panel: With your newly created symbol selected on the stage, go to the Properties panel. If you don't see it, go to Window > Properties.
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Adjust the Alpha: In the Properties panel, look for the "Color Effect" section. If it's collapsed, click the small triangle to expand it. In the "Style" dropdown, select "Alpha".
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Change Opacity: A slider will appear. Drag the slider to the left to decrease the opacity (make it more transparent) or to the right to increase it (make it more opaque). You can also type a value directly into the Alpha percentage box (0% is completely transparent, 100% is completely opaque).