Recently, perovskite nanocrystals (NCs) have been recognized as a substitute for the conventional phosphor color converters, which can improve the color gamut and reproduction of liquid crystal displays (LCDs). However, the issue of instability has always been a stumbling block to practical applications. Here, a novel dual-phase mixed@glass@styrene−ethylene−butylene−styrene (SEBS) (MGS) nanocomposite is synthesized by three simple steps and the optimal photoluminescence quantum yield (PLQY) is 50%. Benefiting from the dual protection of the glass matrix and SEBS film re-encapsulation, the MGS composite shows typical bright green emission, significant improvement in water/ thermal/photon resistance, and environmental friendliness. Moreover, combining the as-prepared red emitter and the green-emitting MGS film with a blue InGaN chip as the backlight, an efficient white light-emitting diode (wLED) for backlights is fabricated. The gamut of the prepared LCD covers 131 and 97.7% National Television System Committee (NTSC) 1953 and Rec. 2020, respectively. In addition, random upconverted laser emission is achieved by low-power two-photon pumping. Hence, the dual-protective composite material with exceptional stability provides a feasible path for backlight display and upconverted lasing.