How do you do this in Photoshop? I am using Photoshop cc and Illustrator and I am in the process of learning. Can anyone teach me how to do that text effect shown in the picture? thanks!
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That's an example of the subtractive color synthesis. In illustrator you can do that by using a subtractive blend mode like multiply in the transparency panel:
To prove the concept I'm using 3 text elements filled with cyan, magenta and yellow. When all the layers overlap, they subtract from each other resulting in black