This invention relates to the controlled growth of uniform octapod-shaped colloidal nanocrystals and use thereof. These octapod-shaped nanocrystals can be applied in many fields of technology. This represents the first approach reported so far for the predictable and controlled fabrication of octapod-shaped nanocrystals. The synthesis approach is applicable to a broad range of materials, such as group II-VI semiconductor nanocrystals but is not limited to these materials. Using several cation exchange and oxidation procedures, we also demonstrate in this application that extremely uniform octapod-shaped nanocrystals of other materials can be synthesized, including various semiconductors, metals and insulators.