Stabilized luminescent nanoparticles for light emitting diode applications comprise perovskite nanocrystals encapsulated by an oxide coating, where the oxide coating includes ligand remnants comprising one or more elements selected from the group consisting of: nitrogen, carbon, phosphorus, and sulfur. A method of making the stabilized luminescent nanoparticles comprises dispersing perovskite nanocrystals and crosslinking ligands in a non-polar solvent to form a first mixture. Each of the crosslinking ligands comprises a head end and a tail end; the head ends attach to the perovskite nanocrystals and the tail ends remain unattached and available for crosslinking. An oxide precursor comprising crosslinking functional groups is added to the first mixture, and the crosslinking functional groups attach to the tail ends of the crosslinking ligands. Thus, an oxide coating is formed on the perovskite nanocrystals.