Very recently (2011, Advanced Materials , 23, 4248), an elegant exfoliation approach was proposed to prepare a new family of two‐dimensional (2D)‐like transition metal carbides and nitrides from layered MAX phases. This discovery has provided the next stage in the design of new graphene‐like inorganic materials with intriguing functionalities and applications. This overview is intended as an introduction to this newest family of graphene‐like quasi‐2D nanocarbides and nanonitrides of d metals, which are known today also as MXenes. Here the authors discuss the available results achieved for MXenes (2011–2012), when a group of various MXenes (2D‐Ta ₄ C ₃ , Ti ₃ (C _0.5 N _0.5 ) ₂ , TiNbC and some others) have been successfully synthesised, a set of their properties (conductivity, mechanical behaviour etc.) were measured and systematical theoretical studies of structural, electronic properties, chemical bonding and the stability of MXenes were initiated. Besides, possible applications of MXenes as promising materials for Li ion batteries, sensors or 2D electronics etc. are noted.