So, for last two days, I've been playing around with GIMP and tried to re-produce MunkDev's fancy example with it + its Script-Fu plugin, 'Layer Effects', which I was unsuccessful.
'Layer Effects' seems to have most of blending options that Photoshop owns.
However, apart from Stroke, Satin and (probably) Shadow, I wasn't able to recreate Bevel & Emboss and Gradient Overlay effects
Any ideas, please?
Thank you!
-- EDIT #1
The reason that I have moved to GIMP is because of the alpha masking that lightspark has mentioned.
You could manually apply an alpha channel to it, but it wasn't that accurate when the texture is a combined with lots of white, black, gray and shadows.
I could just save it as PNG and convert it into TGA or BLP (as lightspark said), but I don't know