Colloidal
nanocrystals (NCs) are intriguing building blocks for
assembling various functional thin films and devices. The electronic,
optoelectronic, and thermoelectric applications of solution-processed,
inorganic ligand (IL)-capped colloidal NCs are especially promising
as the performance of related devices can substantially outperform
their organic ligand-capped counterparts. This in turn highlights
the significance of preparing IL-capped NC dispersions. The replacement
of initial bulky and insulating ligands capped on NCs with short and
conductive inorganic ones is a critical step in solution-phase ligand
exchange for preparing IL-capped NCs. Solution-phase ligand exchange
is extremely appealing due to the highly concentrated NC inks with
completed ligand exchange and homogeneous ligand coverage on the NC
surface. In this review, the state-of-the-art of IL-capped NCs derived
from solution-phase inorganic ligand exchange (SPILE) reactions are
comprehensively reviewed. First, a general overview of the development
and recent advancements of the synthesis of IL-capped colloidal NCs,
mechanisms of SPILE, elementary reaction principles, surface chemistry,
and advanced characterizations is provided. Second, a series of important
factors in the SPILE process are offered, followed by an illustration
of how properties of NC dispersions evolve after ILE. Third, surface
modifications of perovskite NCs with use of inorganic reagents are
overviewed. They are necessary because perovskite NCs cannot withstand
polar solvents or undergo SPILE due to their soft ionic nature. Fourth,
an overview of the research progresses in utilizing IL-capped NCs
for a wide range of applications is presented, including NC synthesis,
NC solid and film fabrication techniques, field effect transistors,
photodetectors, photovoltaic devices, thermoelectric, and photoelectrocatalytic
materials. Finally, the review concludes by outlining the remaining
challenges in this field and proposing promising directions to further
promote the development of IL-capped NCs in practical application
in the future.