Photoshop Chained Text Effect

1. Open a new blank page of 200x200 pixels with a black background.
   
   
2. Create some130 pt, sharp, arial black grey letters.
   
   
3. Apply the bevel and emboss style in the text's layer with the following properties:
   
   
   
   
   
   
4. You should have something like this:
   
   
   
   
5. Now select the text, contract it by 8 and feather it by 4.
   
   
   
   
6. You should have this:
   
   
   
   
7. Create a new layer, set the foreground color to light grey and the back ground color to a dark grey. Choose the gradient tool, set it to linear gradient and then drag the distance and direction of the red arrow.
   
   
   
   
8. Create again a selection of the text but this time expand it by 3 pixels. Create a new layer below the text  and fill the selection with a dark grey.
   
   
   
   
9. Now create a layer set in which you will put the layer of the text, the gradient and the shadow and merge it.
   
   
   
   
10. Next zoom in to 400% choose dark grey for the foreground color. Make a new layer, in a temporary layer set, above the text layers and then create a pixel wide line on it, using the rectangular marquee tool. Duplicate the layer, leaving a pixel wide space in between them.
    
    
    
    
11. Once you have this:
    
    
    
    You have to copy all the lines and rotate them 90 degrees to have something like this:
    
    
    
    
12. Merge the selection in which you have the lines, go to the text layer, select the text, contract it by 11 pixels and cut down the part of the crossed lines.
    
    
    
    
13. In the crossed lines layer, in blending options select "Color Burn".
    
    
    
    
14. Now we will make the screws. Zoom in to 500% and then create a circle on a new layer, using a light grey. Then use a pixel wide rectangular selection to create a black and white line in the center of it.
    
    
    
    
15. Apply a drop shadow (layer > layer style > drop shadow) to the screw and then duplicate it.
    
    
    
    
16. Next thing to do is zoom in to 700% an create a grey link of chain.
    
    
    
    
17. Add a rectangle connected to the link and create by separate. Next, apply bevel and emboss (layer > layer styles > bevel and emboss) on the chain segment.
    
    
    
    
18. Finally go linking the links to form a chain around the letters :P
    
    
    

Well that's all, hope you liked it :D.