You can't add effects on text, but you can animate the text.
Text Box can be added in the insert column of the window. Animations tab can add effects to it.
Text effects and Typography
Text effects and Typography
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Click the Text Effects button, then select the desired text effect.
It would counter-act the stimulant effects of the ADD drug.
To add a shadow or outline to text in most software programs, you can usually find these options in the text formatting tools. Look for options like "Text Effects", "Shadow", or "Outline" in the formatting menu. Simply select the text you want to apply the effect to and adjust the settings to customize the shadow or outline as desired.
Photoshop claimed that there 50+ best text effects and some of those are Wave's text effects, Glossy Emblem text effects, Spectacular style text effect, Aqua and many more
Transitions
They are called animations.
To add a dramatic effect to the text. "I hear a loud destructive bang..." it makes you wonder what happens next.
WordArt