Magnetic 2D materials can be used as a part of van der Waals heterostructures. They are layered materials consisting of different 2D materials held together by van der Waals forces. One example of such structure is a thin insulating/semiconducting layer between layers of 2D magnetic material, producing a magnetic tunnel junction. This structure can have significant spin valve effect, and thus they can have many applications in the field of spintronics. Another newly emerging direction came from the rather unexpected observation of magnetic exciton in NiPS 3.