2D Sprite appears darker when added on scene

I have imported a sprite to test some code on my unity project

The png image view shows a much brighter sprite than what is shown when the sprite is added onto the scene

I am using a 3D scene and an Image Component to display the sprite

The difference can be seen from this picture

The original png is in the center, the left side is how it appears on the editor and the game view and on the right side are the import settings

Have I missed something? What is causing the image to be this desaturated.