Create a new file, position your text (#fbf7f7), select your text, save as selection and then click on the Alpha One channel in the Channels Palette. Ya' follow?

Rasterize the Type Layer. Click once on the Alpha Channel. Filter > Blur > Gaussian Blur at setting 2. Return to the Layers Pallet and click once on the Text Layer. Expand the selection by 2-3 pixels--enough to cover the text edges.

Image > Adjustments > Curves with the settings at left.

Our first "result." Adding more curves (!!) adds a little more (ahem) texture.

Adding the complicated (it only looks the part) curves, part two brings out the chrome effect quite nicely...

...as we can see here.

Filter > Sketch > Plaster comes next. Choose the Plastic Wrap option.

After the filter is properly applied. And see the final result below...

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