Step 1.
Create a new 300X300 pixel document with the transparent background. Create a new layer ("Layer 1") and fill it by the black color. Apply Filter > Render > Lens Flare and use the settings like shown in the pic.1.(Place the dagger in the center).

Light of Future

Then apply Filter > Render > Lens Flare again and choose Lens Type: 50-300mm Zoom, Brightness: 120%, and move the dagger in the lower right corner. Repeat this operation but make the brightness bigger and move the dagger in the upper right corner. You can also add flashes in the left corners.

Step 2.
Now apply Filter > Distort > Wave and use the settings like shown in the pic.2.

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Now apply Filter > Distort > Pinch with the following settings: Amount->-100%. And then press Ctrl+F (to repeat the operation). Set the Blending Mode for the layer as "Hard Light".

Step 3.
Create a new layer ("Layer 3") and fill it by the black color. Then make "Lens Flare" procedure like shown in the pic.4.

Light of Future

Apply Filter > Brush Strokes > Accented Edges with the following settings:Edge Width->6; Edge Brightness->38; Smoothness->5. Apply Filter > Blur > Gaussian Blur (Radius->2 pixels) and then apply Filter > Sketch > Chrome with the following settings: Detail->10; Smooth->0. Now apply Image > Adjustments > Hue/Saturation with the following settings: Colorize->ON; Hue->0; Saturation->70; Lightness->-26. Set the Blending Mode for the layer as "Soft Light".

Step 4.
Duplicate "Layer 1" and drag it on the top of the layers. Apply Filter > Distort > Spherize with the following setting: Amount->-100. Press Ctrl+F two times. Then apply Image > Adjustments > Levels and use the settings like shown in the pic.6.

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Step 5.
Now duplicate "Layer 1 copy 1" two times and transform each layer on 90 (apply Edit > Transform). Set the Blending Mode for the "Layer 1 copy 1" as "Exclusion", for the "Layer 1 copy 2" as "Soft Light", for "Layer 1 copy 3" as "Screen". And that's it.

Light of Future