To create a .NET Standard library, you can either use Visual Studio or the .NET Core CLI toolset. From Visual Studio, we can just click on the .NET Standard option as shown in the following screenshot, and select Class Library (.NET Standard).

Once the .NET Standard library is created, we can reference it to any project and change the version if needed, depending on which platform we want to reference. The version can be changed from the properties panel, as shown in the following screenshot: