MiPT is primarily explored for its psychoactive properties, often used in research settings to study its effects on the human mind and behavior. It is of interest in the field of psychology and neuroscience for understanding altered states of consciousness and its potential impact on perception, mood, and cognition. Some researchers also investigate its potential therapeutic applications, particularly in mental health, though this remains speculative and requires further study. Additionally, it is sometimes used in ethnobotanical and anthropological studies to explore its role in traditional or ceremonial contexts. Its use is highly regulated, and it is not approved for medical or recreational purposes.