Create a new image in Photoshop by using: File/New. Make sure you give yourself tons of room; I used 400 x 400 here but then resized them for the tutoral. Then make the background black and add some text to the center of your picture. I chose a font called Colonna MT because it was thick and bold and had some flavor.

Now you want to have the text layer highlighted an go under Filter/Distort/Polar Coordinates and click rectangular to polar. Next you are going to want to make three (3) copies of your layer, do this by right clicking the layer and pressing Duplicate Layer.

Now we want to jazz this up a little so we are going to create a glow effect. To do this we highlight our bottom text layer and go under Filter/Blur /Gaussian Blur and use a number like 15. Now go to the layer above that and do the same thing except this time use 8 as your value. And you should have something like the image below.