Start by creating a new layer. Fill the layer with blue color.
From filter menu select render>>lens flare. Apply settings as shown.
From filter menu select sketch>>halftone pattern. Apply settings as shown.
From select menu apply color range. Pick black as sample color.
Press Delete to remove the selection area.
Double click the layer to open layer style window. Apply layer style with the settings shown.
Duplicate the layer. From layer menu select layer style>>create layers.
Select and merge resulting layers. From filter menu select blur>>radial blur. Apply settings as shown.
Press Ctrl+U to open hue / saturation window. Apply settings as shown.
From filter menu select distort>>pinch. Apply settings as shown.
Press Ctrl+F to apply the effect again.
Duplicate the layer. From filter menu select artistic>>plastic wrap. Apply settings as shown.
Press Ctrl+L to open level settings. Apply settings as shown.
Change the layer mode to linear dodge.
