To create a new material go to the project folder in which you want to save the new material asset in the Project browser.
Then click right mouse button on the free space or on any browser thumbnail and choose new->material from the appearing dropdown menu, as showed into the following image:
Once clicked on new->material the New File Dialog will appear:
Write the name of the material you want to create into the input box and then click on New button.
Once created, the material will appear into the project browser. You can inspect it for editing it.
