1. Fill your background with black color and enter some white text. (I used New Brilliant font with 80pt). Rasterize your text and then merge your text with the background.
- Using the Magic Wand tool
make a selection by clicking on the background. - Go to Filter>Pixelate>Crystalize and enter 7 for the value. Click OK.
2. Press Ctrl+Shift+I (Mac: Command+Shift+I) to invert the selection. Go to Filter>Noise>Add Noise..and enter 70% for the Amount value.. Also make sure Gaussian option is selected and Monocramic box is unchecked.
3. Your selection should be still active, go to Filter>Blur>Gussian Blur and enter 2 for the Radius value.
4. Press Ctrl+M (Mac: Command+M) to adjust the curves. Try adjusting the curve the way it showned on the picture above. Don't worry if your Curve doesn't look exactly the same, just try your best. Click OK after you're finished
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