1) Open a new document 1024x768 or 800x600.
2) Make a new layer. Fill with Black (000000)
3) Apply two Lens Flares (Filter-Render-Lens Flares). First 50-300mm Zoom, In the top right corner.
4) Second 105mm Prime, In the bottom left corner
5) Go to Image-Adjustsments-Brightness/Contrast. Brightness=80.
6) Go to Filter-Distort-Twirl. Angle=800.
7) Go to Filter-Artistic-Plastic Wrap. Settings: 20,12,19
8) Now go to Filter-Distort-Polar Coordinates. Polar to Rectangular. After that go to Image-Adjustments-Hue/Saturation. Edit the color any way you choose.

Add On
1) This is only a modification with blending effects, horizontal and vertical turn arounds and the fade wave effect.
2) Go to Filter-Distort-Polar Coordinates. Polar to Rectangular. After that go to Edit Fade Polar Coordinates. Settings: 96%;Linear Burn
3) After that go to Image-Adjustments-Hue/Saturation. Edit the Color the way you like. Copy this layer and go to Edit-Transform- Flip Horizontal. Set the blending mode to Overlay.
4) Now merge this two layer together (ctrl+e) and duplicate this merged layer once more. Go to Edit-Transform- Flip Vertical. Set the blending mode to Overlay (or something else, it’s not important).

And now you're done!

once again a nice tutorial, would be better if there was a screenshot

Very nice, here were my results:

The first one^^

The one with the addon^

It would have been better if you provided pictures with each step, so I could see if I was doing it correctly. Whether I did it right or not, they still look good

Would have been a better tutorial if it had screen shots. 8/10
Very cool effect though.

nice tut

a very nifty tutorial, could have added ur finished designs so that we knew what we were learning lol but ah well, i designed one and it looks allright *cough* but the colour isnt right, any way i can fix that, whenever i click gold it becomes blue HELP ME!!!!