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using UnityEngine;
using System.Collections;

public class ExampleClass : MonoBehaviour {
    public Material material1;
    public Material material2;
    public float duration = 2.0F;
    public Renderer rend;
    void Start() {
        rend = GetComponent<Renderer>();
        rend.material = material1;
    }
    void Update() {
        float lerp = Mathf.PingPong(Time.time, duration) / duration;
        rend.material.Lerp(material1, material2, lerp);
    }
}