The final effect is as follows.
Before starting, you may need to find a suitable font effect for this, because not all fonts are suitable for this style of application. We need a rounder font, not too sharp.
Step 1: This effect works really well on dark backgrounds, but will also work on brighter backgrounds (as long as it's not too bright itself, as the effect itself will make things brighter). Create a new document and fill the background with your favorite color, we used #2d3134.
Step 2: Set the font you downloaded earlier. They haven't been processed in any way yet, but make sure you set the text color to white. Set the blending mode of this layer to Darken. This will cause your text to disappear from the canvas.
Step 3: Establish the style: Go into the text layer’s blending options (right-click on the layer > Blending Options). Apply the layer effects shown below and make some modifications if necessary.
Select "Shadow" in the layer effects.
inner shadow
internal glow
