Answer
- Open your Layers and Channels palettes;
- Make your image a regular layer as opposed to a background layer. Easiest way is to double click the layer bar in the Layers palette;
- In the Channels palette, make sure the RGB channels are visible, then click the leftmost icon on the bottom, ‘Load channel as selection’;
- In the Layers palette, click the ‘Add Layer Mask’ icon (third from left, rectangle with a round hole in it);
- With the Layer Mask still selected, choose Image > Adjustments > Invert, shortcut Control / Command + I;
- Use Layer Styles to give the layer a black Color Overlay;
- Create a coloured layer under your current layer to see the effect;
- Tweak the effect using opacity, curves or other adjustments on both the actual layer and the mask;
- Save as png-24. Don’t forget to turn off your coloured background layer before you do.
Attribution
Source : Link , Question Author : Eric Coffman , Answer Author : Vincent