Monolayer protected nanoclusters (MPCs) are described herein. The MPCs contain a cluster of atoms or molecules (e.g. core) having bound thereto a plurality of ligands (e.g., monolayer). The ligands can be bound covalently or semi-covalently bound to the cluster. The ligands are generally in the form of a monolayer or mixed monolayer. The monolayer or mixed monolayer contains a plurality of ligands. In one embodiment, the monolayer and/or mixed monolayer contains 1,4-dithiolate ligands. The MPCs described herein exhibit improved quantum efficiency allowing for single cluster emissions to be measured. Moreover, some embodiments of the MPCs described herein exhibit enhanced redox activity, including the ability to transfer a plurality of electrons, i.e., up to about 19 or up to about 30 electrons under controlled conditions, while displaying improved overall chemical stability. Such behavior can be utilized in catalysis and nanoelectronics applications.