Creating a cool text effect with matching background design
Start by typing your text.
Double click the layer to open layer style window. Apply settings as shown.
Press Ctrl+T. Right Click and select Warp. Adjust the nodes to get the shape as shown.
Squeeze the text vertically.
Duplicate the layer. From layer menu select layer style>>create layers. Select and merge all the resulting layers. From "Filter" menu select "Blur>>Motion Blur ". Apply settings as shown.
Change the layer mode to "Hard Light ".
Create a circle using elliptical shape tool. Apply same layer style.
Similarly create more cicular shapes with different sizes. Apply same layer style.