This compound is primarily utilized in biochemical research, particularly in studies involving the modulation of neurotransmitter systems. It serves as a tool for investigating the interactions between tryptamine derivatives and guanosine-based receptors, which play a role in cellular signaling pathways. Its unique structure allows it to act as a probe for understanding the binding mechanisms and physiological effects of similar compounds in the nervous system. Additionally, it has potential applications in the development of novel therapeutic agents targeting neurological disorders, as it may influence serotonin-related pathways. Researchers also explore its use in studying the biochemical basis of mood regulation and cognitive functions.