Used primarily as a redox-active ligand in coordination chemistry, this compound forms stable complexes with transition metals, making it valuable in catalysis and electrochemical applications. It is employed in the design of sensors, particularly for detecting metal ions in environmental and biological systems. Its ability to undergo reversible electron transfer supports its use in molecular electronics and as a component in photochemical devices. Additionally, it serves as a building block in supramolecular chemistry for constructing metal-organic frameworks (MOFs) with tailored porosity and reactivity.