We study algebras of bounded, noncommutative (nc) analytic functions on nc subvarieties of the nc unit ball. Given an nc variety V in the nc unit ball B d , we identify the algebra of bounded analytic functions on V -denoted H ∞ (V) -as the multiplier algebra Mult H V of a certain reproducing kernel Hilbert space H V consisting of nc functions on V. We find that every such algebra H ∞ (V) is completely isometrically isomorphic to the quotient H ∞ (B d )/J V of the algebra of bounded nc holomorphic functions on the ball by the ideal J V of bounded nc holomorphic functions which vanish on V. In order to demonstrate this isomorphism, we prove that the space H V is an nc complete Pick space (a fact recently proved -by other methods -by Ball, Marx and Vinnikov).We investigate the problem of when two algebras H ∞ (V) and H ∞ (W) are (completely) isometrically isomorphic. If the variety W is the image of V under an nc analytic automorphism of B d , then H ∞ (V) and H ∞ (W) are completely isometrically isomorphic. We prove that the converse holds in the case where the varieties are homogeneous; in general we can only show that if the algebras are completely isometrically isomorphic, then there must be nc holomorphic maps between the varieties (in the case d = ∞ we need to assume that the isomorphism is also weak- * continuous).We also consider similar problems regarding the bounded analytic functions that extend continuously to the boundary of B d and related norm closed algebras; the results in the norm closed setting are somewhat simpler and work for the case d = ∞ without further assumptions.Along the way, we are led to consider some interesting problems on function theory in the nc unit ball. For example, we study various versions of the Nullstellensatz (that is, the problem of to what extent an ideal is determined by its zero set), and we obtain perfect Nullstellensatz in both the homogeneous as well as the commutative cases.Analogues of the Nevanlinna-Pick interpolation on the noncommutative ball first appeared in [21] and [12]. More general noncommutative versions of the classical interpolation and realization results appeared recently in the works of Agler and M c Carthy [5] and Ball, Marx and Vinnikov [14,15], who also introduced a generalization of reproducing kernel Hilbert spaces to the free setting.Our first goal in this work is to show that the full Fock space is a noncommutative reproducing kernel Hilbert space (nc RKHS), and its algebra of multipliers is, on the one hand, the algebra of bounded functions on the noncommutative ball (such that the multiplier norm and the supremum norm coincide), and, on the other hand, that this algebra coincides with the WOT closed algebra considered by Arias-Popescu and Davidson-Pitts. With this identification in hand, our second goal is to show that several results of [14] in the case of the noncommutative ball follow from established operator algebraic techniques and results, in particular, the complete Pick property of the noncommutative kernel of the full Fock space.W...