Step 1: Open a new document, make the background black and type your letters in white. Now press Ctrl+E to reduce the layers to the background.
Step 2: Now go filters => Blur => Gaussian Blur and set it between 1.0 an 1.5.
Step 3: Next we need Filters => Stylize => Solarize. Your text looks like this!
Step 4: Then use image => Adjustment => Channel Mixer and set the values like below.
After putting the values in Channel Mixer, your text looks like!
Step 5: Now go Filters => Distort => Polar Coordinates and choose the lower -Polar to Rectangular- radio button.
Step 6: Now go to Image => Rotate Canvas => 90°CCW. Next we apply Filters => Stylize => Wind - from left -you may use it two times; depending on your image size.
Step 7: Then go to image-rotate canvas 90°CW. Now go again Filters => Distort => Polar Coordinates and this time choose the upper -Rectangular to Polar- radio button. And Your Speed Type Text Looks like a great effect!
