Apparently it's used to make a dimensional distortion ring. It seems to give nice stats, but since I can't confirm it, I don't know if it's worth the effort. Also, I don't even know where to get all the materials. >_>
Regardless, I'm selling it for 50g
I also have dimlies and a few shining jewels for sale; 50s and 1g, respectively. me no want them