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Towards fundamental studies and potential applications, achieving precise control over the generation of defects in pure ZnO nanocrystals has been always intriguing. Herein, we explored the role of spectator ions (Co2+ and Ni2+) in influencing the functional properties of ZnO nanocrystals. The crystalline quality, phase purity, and composition of as-prepared samples were thoroughly established by powder X-ray diffraction, electron microscopy (TEM and STEM), and by Raman and X-ray photoelectron spectroscopies (XPS). Despite the presence of Co2+ and Ni2+ ions in the reaction mixture, STEM-energy dispersive spectroscopy (EDS), XPS analysis, and inductively-coupled plasma mass spectrometry (ICP-MS) revealed that the ZnO nanocrystals formed are dopant-free. Even so, their luminescence and magnetic properties were substantially different from those of pure ZnO nanocrystals synthesized using a similar methodology. We attribute the origin of these properties to the defects associated with ZnO nanocrystals generated under different but optimized conditions. [ABSTRACT FROM AUTHOR]