Nanocrystals are a state-of-matter in the border area between molecules and bulk materials. Unlike bulk materials, nanocrystals have size-dependent properties, yet the question remains whether nanocrystal properties can be analyzed, understood, and controlled with atomic precision, a key characteristic of molecules. Acknowledging the inclination of nanocrystals to form defect structures, we first outline the prospects of atomically precise analysis. A broad spectrum of analytical methods has become available over the last five years, such that for heterogeneous nanocrystal ensembles, a single, atomically precise representative structure can be determined to explore structure-property relations. Atomically precise synthesis, on the other hand, remains an outstanding challenge that may well face fundamental limitations. However, to amplify properties and prepare nanocrystals for specific applications, full atomic precision may not be needed. Examples of an atomic precision light approach, focusing on exact thickness or facet control, exist and can inspire scientists to explore atomic precision in nanocrystal research further.