I noticed that in the particle system component, there is a blend type option that can be set to additive. That way, the black in your texture will be transparent. I would like to be able to do that with a material but I can’t seem to find the option anywhere. Unity has the Particles/Additive shader for that purpose, does PlayCanvas have an equivalent?
You mean something like this?
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I feel so dumb… You have no idea how much time I have spent trying to figure this one out. I was about to start writing a custom shader. Thanks for the help.
No problem, happens to the best of us 
@anon49240888 It turns out you can. In your material, you have to look under Opacity -> Blend Type and set it to Additive.
@anon49240888 No worries, I could have formulated my question better.