Create a text effect with an amazing 2.0 look.

– First we start by creating a new file(CTRL+N) and write using a blod font and #eb008c as color.
Fancy Text Photoshop Tutorials

– Now we’re going to apply some layer styles, start with Drop Shadow using the values below:
Fancy Text Photoshop Tutorials

– Now Stroke with the following values:
Fancy Text Photoshop Tutorials

– Using the Rectangle Marquee Tool Fancy Text Photoshop Tutorials make a selection from the middle of the text to the top, as in the image below
Fancy Text Photoshop Tutorials

– Now go to Select -> Transform Selection and click the Switch between free transform and wrap modes Fancy Text Photoshop Tutorials icon located in the upper toolbar. After the menu changes, select Flag from the drop-down menu
Fancy Text Photoshop Tutorials

– The selection should like the following, you can play with the values to fit your text:
Fancy Text Photoshop Tutorials

– Now create a new layer and with the Gradient Tool, using a White to Transparent gradient, make a gradient from the top to bottom of the selection
Fancy Text Photoshop Tutorials

– Create a new layer and Ctrl+Click over the text layer thumb to select it. Using the same White to Transparent gradient, make a gradient from the bottom to top of the selection
Fancy Text Photoshop Tutorials

– Change the blending option of this layer to Overlay and change the Opacity if neccesary to get the final result
Fancy Text Photoshop Tutorials