Used as a key intermediate in organic synthesis, particularly in the preparation of cyclooctyne derivatives for click chemistry applications. Its strained alkyne products are valuable in bioorthogonal reactions, useful for labeling biomolecules in live-cell imaging. Also employed in the synthesis of macrocyclic compounds and functionalized polymers due to its reactivity in ring-opening metathesis polymerization (ROMP). Serves as a building block in medicinal chemistry for constructing complex cyclic structures with potential biological activity.