This work presents the precise synthesis, characterization, and property analysis of transition metal and transition metal oxide nanocrystals (NCs). Specifically, the interface between catalytic and magnetic properties is explored using precisely defined NCs. The methods of NC synthesis and characterizations are discussed including an in-depth discussion of Extended X-ray Absorption Fins Structure (EXAFS) based nanothermometry methods developed in this work. The ability to control the atomic structure of NCs is discussed in the context of rapidly induced intermetallic phase transitions for the electrochemical Oxygen Reduction Reaction (ORR). We discuss the use of these precisely designed NCs for their use in thermal catalysis in the presence of an induction field to show how the magnetic properties of NCs can enhance the catalytic properties, specifically CO Oxidation and Cinnamaldehyde Hydrogenation. The discussion of nanothermometry is extended as an in-operando technique to better describe the magnetic effects of inductively enhanced CO Oxidation in flow. In the final chapter, the precise synthesis of NCs is explored in order to generate both novel materials as well as materials synthesized through non-solvothermal methods. The generation of core-shell materials in the context of ORR and the electrochemical Oxygen Evolution Reaction (OER) are discussed. These core-shell materials show great potential for magnetically enhanced catalysis, and this possibility is discussed as a possible future work.