In the frame of the 20th Anniversary of the Journal of Nanoparticle Research (JNR), our aim is to start from the historical context twenty, years ago and to give some recent results and perspectives concerning nanomagnets prepared from clusters preformed in the gas phase using the Low Energy Cluster Beam Deposition (LECBD) technique. In this paper, we focus our attention on the typical case of Co clusters embedded in various matrices to study interface magnetic anisotropy and magnetic interactions as a function of volume concentrations, and on still current and perspectives through two examples of binary metallic 3d-5d TM (namely CoPt and FeAu) clusters assemblies to illustrate size-related and nanoalloy phenomena on magnetic properties in well-defined mass-selected clusters. The structural and magnetic properties of these cluster assemblies were investigated using various experimental techniques that include High Resolution Transmission Electron Microscopy (HRTEM), Superconducting Quantum Interference Device (SQUID) magnetometry, as well as synchrotron techniques such as Extended X-Ray Absorption Fine Structure (EXAFS) and X-Ray Magnetic Circular Dichroism (XMCD). Depending on the chemical nature of both NPs and matrix, we observe different magnetic responses compared to their bulk counterparts. In particular, we show how finite size effects (size reduction) enhance their magnetic moment and how specific relaxation in nanoalloys can impact their magnetic anisotropy.