Step 1
Create a new document sized 1200px * 700px, fill the background layer with black. Create a new layer and use a soft white brush to do a single-click & nbsp;to position shown below:

Hit Ctrl + T and compress this layer down as show below:

Use a soft brush to erase the bottom part of the base:

Step 2
Use the font you downloaded, type some text onto the canvas:

Add a layer mask to the this text layer:

Here is the effect after you add the mask:

Duplicate this text layer once, apply the following Gaussian Blur settings:

Reduce the opacity of the blurred text layer to around 50%, you will have the following effect:

Create a new layer under the original text layer, render some cloud behind the text to add some mysterious effect:

Step 3
Now let's make a particle brush. Create a new document (size doesn't really matter), use pen tool to draw a shape and fill it with black colour:

After the fill, made the background layer "transparent":

Go to Edit & gt; Define Brushset and define a new brush:

Once you defined the brushset, press F5 and bring up the brush window, apply the following settings:
Shape Dynamics

Scattering

Other Dynamics

Make sure you tick the "Airbrush", "Smoothing" and "Protect Texture" settings.
Step 4
Use the brush we just made, paint some random particles around the text, reduce the brush size where appropriate:

Optionally, once you finish the painting of the particles, duplicate the particle layer once and apply the following motion blur settings to it:

This will create a stripe effect on the text:

Also add a curves adjustment layer on top of all previous layers with following settings:
RGB

Red

Green

Blue

and here is the effect so far:

Step 5
Now flatten the image, duplicate the background layer once and go to "Filter Liquify" and click on the "Forward Warp Tool":

Use the following settings for the liquify filter:

Apply this liquify brush to base of the text to create a curvy effect: (adjust the brush size for different result)

Also try apply the liquify filter to those particles - this will create some cool effect too:

and here is the final effect: (click to enlarge)

That's it! I hope you enjoy this tutorial and find it useful! Till next time, have a great day!