Glass Text

Create a new image with your text (I used a blue color to make it real glassy). Now Selection/Modify/Feather settings; 5 pixels.
(With white as foreground) Image/Other/Hot Wax Coating
with the magic wand tool select the inside of the text (set tolerance low, about 25 to 50). Then apply Image/Effect/Cutout settings; Opacity=100, Shadow=foreground color (set to a lighter blue than the original text), Blur=5, Offsets Both=5.
Change the foreground to white again and apply Image/Other/Hot Wax
Without deselecting, Apply Colors/Adjust/Brightness and Contrast settings; Brightness=25, Contrast=50, then deselect. Apply Hot Wax Coating again.
Then Colors/Adjust/Brightness & Contrast settings; Brightness=25, Contrast=50 twice.

I adapted this from State of Entropy, go there for more.

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