Hi guys , this post briefly explains what is the basic difference in Sprites, Textures and Material in Unity:
Sprites : All the graphic components that are part of 2D Game development are called sprites. Sprites can be moved around, resized , rotated like a game object in Unity. They work with sprite Renderer unlike 3D object that work with Mesh renderer.
Unity contains various Sprite Tools such as :
Sprite Editor : To edit sprites by selecting them individually from sprite Atlas or changing there Pivot point etc.
Sprite Creator : Used to create Sprite placeholder in Unity 5.3 and above.
Sprite Packer: it is used to increase the efficiency of your project's usage of main memory by packing various sprite into a single place using the "Packing Tag" attribute that shows up in Inspector window on selecting an sprite in project window.