Used as an intermediate in organic synthesis, particularly in the preparation of functionalized naphthalene derivatives for pharmaceuticals and agrochemicals. Its methoxymethoxy group acts as a protecting group for phenolic OH groups during multi-step syntheses, allowing selective reactions at other sites of the molecule. Commonly employed in the development of dyes, fluorescent probes, and liquid crystals due to the stability and reactivity profile it offers. Also finds use in the synthesis of certain natural product analogs where controlled deprotection is required.