Step 1
Create a new document with a size of 1200 * 800 px and fill the background with black. Use the font we downloaded earlier on the background. (Colors have been indicated in the picture below)
Step 2
On the text layer, apply the blending options settings shown in the image below:
internal glow
You will get the effect shown below
Step 3
Duplicate this text layer 5 times. For each duplicate layer slightly adjust its position on the canvas, and also change the opacity of each duplicate layer to create depth. The picture below is the effect after I adjust each layer:
Step 4
Duplicate all preview text layers once. Rasterize these duplicate text layers and merge them together. Apply the Gaussian blur settings shown below on the merged layer:
Change the blending mode of the merged layer to "Hard Light" and you will get the following effect:
Rename this merged layer to "Glow", we will continue to use this layer in the next step.
Step 5
Duplicate this "glow" layer 3 times. Working from bottom to top, adjust the blending mode and opacity of each layer.
Follow the steps below to set up: Duplicate layer: 1, Blending mode: Light, Opacity: 90%, Duplicate layer: 2, Blending mode: Overlay, Opacity: 80%, Duplicate layer: 3
Blending Mode: Soft Light, Transparency: 70%, you will get the effect below:
Step 6
Open the "Smoke Texture" in PS, use the Lasso Tool, set a 20px feather, select part of the smoke texture, copy and paste it into our text file.
Use the Free Transform tool (press Ctrl + T) to rotate the texture until it looks like the image below: