Turbo Play contains a collection of build-in effects for you.

Audio effects include:
Turbo Play supports VST 2.x, VST 3.x instruments and effects and VST 3.5+ expressions through VST instruments.

Video effects include:
Video transitions include:
Audio effects applied to a track are'runtime' effects, also configurable through the mixer. Audio effects applied to a part are instantly 'rasterized'.
MIDI effects (VST instruments) are applied at runtime and they can also be rasterized on demand.
Video effects applied to images are rasterized immediately. Video effects applied to videos and transition effects are applied at runtime.