What I am asking is the amt of possible configurations of a 16x16 sprite?
I tried doing the following by myself I just want to know if I'm correct.
I think if I have RGB as color it would be $256 \cdot 256 \cdot 256$ which is $256^3$ or $16777216$. Then to calculate the combinations of something is. The configurations raised to the power of how many there are. So since there are $16 \times 16$ grid or $256$. We get
$16777216^{256}$ or $(256 ^ 3) ^ {16 \times 16}$.
I used this to do it: https://defuse.ca/big-number-calculator.htm
Am I right about this?
Yes. More tersely, you have $(256^3)^{256} = 256^{768} = 2^{6144}$ permutations. The decimal representation of this number is generally of little interest. It suffices to note that this number is big. For some perspective on just how unfathomably humongous this number is, consider viewing this video on how "big" $2^{256}$ is.