BackgroundResearch into perovskite nanocrystals (PNCs) has uncovered interesting properties compared to their bulk counterparts, including tunable optical properties due to size‐dependent quantum confinement effect (QCE). More recently, smaller PNCs with even stronger QCE have been discovered, such as perovskite magic sized clusters (PMSCs) and ligand passivated PbX2 metal halide molecular clusters (MHMCs) analogous to perovskites.ObjectiveThis review aims to present recent data comparing and contrasting the optical and structural properties of PQDs, PMSCs, and MHMCs, where CsPbBr3 PQDs have first excitonic absorption around 520 nm, the corresponding PMSCS have absorption around 420 nm, and ligand passivated MHMCs absorb around 400 nm.ResultsCompared to normal perovskite quantum dots (PQDs), these clusters exhibit both a much bluer optical absorption and emission and larger surface‐to‐volume (S/V) ratio. Due to their larger S/V ratio, the clusters tend to have more surface defects that require more effective passivation for stability.ConclusionRecent study of novel clusters has led to better understanding of their properties. The sharper optical bands of clusters indicate relatively narrow or single size distribution, which, in conjunction with their blue absorption and emission, makes them potentially attractive for applications in fields such as blue single photon emission.