I know this is no substitute for an object, but
it's kinda fun
and it works differently than the other cap I saw, shorter and more customizable:
if you want to use a different font
make the sprite font strip evenly spaced,
and input the characters from your font strip into text2 and you can use any fontstrip you want
maybe you'll want to edit it for your purposes
to test
just type in your words into the edit box
click here
as you can see, you can do text blitting in just a few events
also, if you wanted to make it more efficient, you could make it so it didn't start from scratch every time
but it runs well on my machine at least, until you type a few hundred characters
for you troubleshooters out there
if you change the toggle off on that action in the beginning
and move sprite2 onto the board, you'll see it's glitchy for the first 50 something characters
kinda weird, not gonna troubleshoot it anymore for now at least, not having any luck