Abstract: A nanocrystal composite comprising a plurality of nanocrystals comprising a core comprising a metal or a semiconductive compound or a mixture thereof and at least one ligand, wherein said core is surrounded by at least one ligand, and a polythiourethane matrix, wherein said polythiourethane matrix is formed by thermal or UV induced nucleophilic addition of polyisocyanates having at least two isocyanate groups and polythiols having at least two thiol groups. Composite of the present invention provides improved thermal and photo thermal stability to the nanocrystals.