Once you select 'New Project', there are various fields to be filled out:
Banner - This is the cover image that will be displayed for your project.
Project Name - This will be the title of your project.
Description - You can add a short overview of your project. It is only viewable for project owners.
Tags - This will allow your project to be discoverable with keywords. Note: Currently the app does not utilize this information but it will be able to be used in a future feature.
Editors - You can add or remove users as editors in this field.
Project Visibility - The project is set to private by default, but you change it to public in this field.
After completing the two mandatory fields: Banner and Project name, you can create your project by pressing the check (✓) icon.