The potential universality of chemical transformation principles makes it a powerful tool for nanocrystal (NC) synthesis. An example is the nanoscale Kirkendall effect, which serves as a guideline for the construction of hollow structures with different properties compared to their solid counterparts. However, even this general process is still limited in material scope, structural complexity, and, in particular, transformations beyond the conventional solid-to-hollow process. We demonstrate in this work an extension of the Kirkendall effect that drives reversible structural and phase transformations between metastable metal chalcogenides (MCs) and metal phosphides (MPs). Starting from Ni