The spectrally narrow, long-lived luminescence of lanthanide ions makes optical nanomaterials based on these elements uniquely attractive from both a fundamental and applicative standpoint. A highly coveted class of such nanomaterials is represented by colloidal lanthanide-doped semiconductor nanocrystals (LnSNCs). Therein, upon proper design, the poor light absorption intrinsically featured by lanthanides is compensated by the semiconductor moiety, which harvests the optical energy and funnel it to the luminescent metal center. Although a great deal of experimental effort has been invested to produce efficient nanomaterials of that sort, relatively modest results have been obtained thus far. As of late, halide perovskite nanocrystals have surged as materials of choice for doping lanthanides, but they have non-negligible shortcomings in terms of chemical stability, toxicity, and light absorption range. The limited gamut of currently available colloidal LnSNCs is unfortunate, given the tremendous technological impact that these nanomaterials could have in fields like biomedicine and optoelectronics. In this Review, we provide an overview of the field of colloidal LnSNCs, while distilling the lessons learnt in terms of material design. The result is a compendium of key aspects to consider when devising and synthesizing this class of nanomaterials, with a keen eye on the foreseeable technological scenarios where they are poised to become front runners.* In their book "Understanding Chemistry", Pimentel and Sprately commented how "Lanthanum has only one important oxidation state in aqueous solution, the +3 state. With few exceptions, this tells the whole boring story about the other 14 Lanthanides". Scheme 1. Aspects discussed in this Review about colloidal Ln 3+ -doped semiconductor nanocrystals (LnSNCs). * In 1798, B. M. Tassaert reported the first coordination compound of cobalt and ammonia without, however, fully understanding the material. Passing through S. M. Jörgensen's chain theory to explain metal complexes, it was only in 1893 that A. Werner finally realized the existence of a principal (oxidation state) and auxiliary (coordination number) for the metal in that "odd" class of complex compounds (as Tassaert first referred to them).* This last statement is only partially true. There are slight changes in the position of the 4f-4f emission lines of Ln 3+ depending on the coordination environment of the ion. The extent of such shifts is of up to a few hundred wavenumbers at most and they occur because of the so-called nephelauxetic effect, where changes in the bond length between Ln 3+ and the surrounding anions result in variation of 4f electronic distribution. * A Lewis acid is a species that accepts lone electron pairs from a donor species (Lewis bases). The less (more) the Lewis acid is polarizable, the harder (softer) its acid character is, according to the hard soft acids bases (HSAB) theory. This acidity can be regarded as a measure of how "thirsty" for electrons a species is.* Preliminary information a...