I want to make an object whose opacity changes based on the player's distance from the object. In my case, the closer the player is, the more transparent the object becomes. I noticed that the holograms above Control Points seem to have the effect I'm looking for. If you walk through it, it gradually disappears. I was wondering if it was possible to add that same effect to any other objects.

EDIT:
If no one is answering because the answer is "no," someone please let me know.