A method of producing nanoparticles comprises effecting conversion of a molecular cluster compound to the material of the nanoparticles. The molecular cluster compound comprises a first ion and a second ion to be incorporated into the growing nanoparticles. The conversion can be effected in the presence of a second molecular cluster compound comprising a third ion and a fourth ion to be incorporated into the growing nanoparticles, under conditions permitting seeding and growth of the nanoparticles via consumption of a first molecular cluster compound.