There is Plenty of Room at the Bottom" a statement of Richard Feynman laid the theoretical foundations for the nanotechnology field. With the development of nanoscience, the performance of many products has been improved significantly. Nanomaterials have revolutionized numerous branches of science and technology with their miraculous properties. Different shapes and size of nanoparticles have great importance as both influence the physical and chemical properties of nanoparticles. These can be prepared by top - down as well as bottom - up approach and show fantastic nanostructures like nanoflowers, nanorods, nanobelts, nanotubes, nanonails, etc., Which can have significant effects on their optical, catalytic, electric, and biological properties. Nanomaterials have large surface to volume ratio, which is the key factor in determining the novel applications of nanoparticles. They find some interesting applications as supercapacitors, opto-electronic devices, solar cells, sensors, targeted drug delivery, catalyst, etc. The development of nanomaterials has a very bright future for next generation with some newer and newer applications.