After almost 100 years of research inorganic layered (2D) materials, like MoS2, are currently used as catalysts, lubricants, and perhaps most importantly in rechargeable Li- ion batteries. After a short briefing on the history of 2D materials research,1 the concepts which lead to the first synthesis of hollow-cage nanostructures, including nanotubes (INT) and fullerene-like (IF) nanoparticles from 2D compounds, will be presented. The progress with the high-temperature synthesis and characterization of new inorganic nanotubes (INT) and fullerene-like (IF) nanoparticles (NP) will be presented. In particular, the synthesis and structure of nanotubes from the ternary “misfit” layered compounds (MLC), like LnS-TaS2 (Ln= La, Ce, Gd, Ho, Er), CaCoO-CoO2 and numerous other MLC were elucidated. More recently nanotubes (and nanoscrolls) from quaternary MLC were reported. Major progress has been achieved in elucidating the structure of INT and IF using advanced microscopy techniques, like aberration corrected TEM and related techniques. Mechanical, electrical and optical measurements of individual WS2 nanotubes reveal their unique quasi-1D characteristics. This analysis demonstrate their different behavior compared to the bulk phase. Applications of the IF/INT as superior solid lubricants and for reinforcement of variety of polymers and light metal alloys was demonstrated. Few recent studies indicate that this brand of nanoparticles is less toxic than most nanoparticles. With expanding product lines, manufacturing and sales, these nanomaterials are gradually becoming an industrial commodity.