AdobeStock: Estimated Watermark

Estimated watermark image and alpha matte (final result)
c*alpha	W
c*alpha*W (matted watermark, embedded on a gray background for visualization)
Initial matted watermark estimation (Section 3.1), normalized per color channel for visualization
Shift-corrected initial matted watermark (Section 3.1)
Estimated blend factor, c = (0.39 0.40 0.43)
Estimated foreground/background masks (Section 3.2)
Foreground mask	Background mask
Initial alpha matte, alpha_n (Section 3.1)