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I want to create an image that has the text as transparent like this (imagining that black is transparent)
So in photoshop I have tried selecting 'color range' and choosing the white and then getting the inverse selection and deleting it from a new white layer. But this comes out very pixelated like this (I have put a black layer underneath to show through the transparence):
How can I do this without the pixelated edges? The ideal situation here would be if there was a 'transparent clipping mask'