1. A computer-implemented method of compressing graphics image data into at least one compressed block comprising the steps of: (A) reading a block of graphics image data, the block having a plurality of pixels, each of the plurality of pixels having a color represented by red, green, blue, and intensity values; (B) computing an epsilon value for the block, the epsilon value for the block being based on an attribute of the block; (C) mapping a color ordinal number to each pixel in the block by identifying a distinct color of the pixel based on the epsilon value and assigning to the pixel a corresponding color ordinal number, each color ordinal number representing one of the distinct colors present in the pixels of the block; (D) storing the red, green, blue, and intensity values of each distinct color present in the block into the compressed block; and (E) storing the color ordinal number mapped to each pixel in the block into the compressed block.