This Photoshop tutorial teaches you how to create a realistic mossy stone text using materials.
The final effect is as follows.
Material 1
Material 2
Material 3
Create a document with a size of 600 x 450 pixels and a white background. Then paste material 1 as the background layer.
Create a new layer, then use the horizontal text mask tool, select a font, and enter the text. Here I chose Arial Black, 100pt, and the effect is as follows.