Have seen loads of tutorials for photoshop how to make a letterpress effect as seen above but non of them for GIMP (http://gimp.org). It is a trendy effect these times on the web and yes, it is fairly easy to create one.
Prepare your gimp canvas
Start with a new clean canvas (Files -> New or Ctrl+N), lets say 640px width and 480px height.
Add a background
Choose a gradient tool and use these colours: #448ccb (top) and #003471 (bottom) to create a gradient.
Add some text
Now select a text tool and add some text. Choose a font you like but I recommend to use a bold text. Thin font won't work that well. Color of the font #003471.
Right click on the layer with the text and choose "Text to selection".
Add a new layer.
Select a gradient tool and use this colour: #0f233a. Use gradient FG to Transparent and make the gradient from bottom of the text somewhere to the middle.
White Drop Shadow
Select Filters > Light and Shadow > Drop Shadow.
Set Offset X, Offset Y and Blur radius to 1. Colour white. Opacity 20.0.
Select from top navigation Select > Invert
Then Filters > Light and Shadow > Drop Shadow
Set Offset X and Offset Y to 1. Blur radius to 6. Colour black. Opacity 100.0.
And this is what we ended up with. Have a play with values of shadows, etc...