MonoGame 3.8 supports .NET Core projects and no longer requires an installer. Templates are installed via NuGet and can be used with code editors like VSCode. The MonoGame Content Builder Editor (MGCB) can be installed via two command line commands to edit content projects. Creating a new MonoGame project involves using the "dotnet new" command to create a folder and project, then opening it in a code editor and using MGCB to edit content.