Gui Pop-Up Notification for Picking up Items

As the title states, I’m attempting to create survival based - item system, where once an object is destroyed a gui pop-up appears in the corner of the screen, then travels down along the Y axis until it fades to nothing (I.e. “Got a Key” appears and then fades+travels down after an object tagged “Key” is destroyed). I know that I would have to gradually change the alpha of the GUIText over time, but as for everything else, I’m lost. Does anyone have any idea on how to make this work?

Take a look at my answer to this question: it shows a way to create a message that goes up while vanishing. The message is a number, but you can easily replace it by any string.