Equip this card to a monster that cannot be targeted by an effect, such as "King Dragun", to lock your opponent from activating ANY cards that target whatsoever, in much the same way as "Gravekeeper's Servant" stops your opponent from declaring an attack in combination with "Macro Cosmos".
This might be able to cripple Gladiator Beasts and elemental searchers without the use of negativity effects.
If you equip "Heart of Clear Water" to the same monster equipped with this card, then that monster cannot be destroyed by battle or effects, and your other monsters cannot be targeted by effects.
"Thought Ruler Archfiend" is perhaps one of the best candidates for this card. Your opponent is locked from activating any Spell/Traps that target monsters because "Thought Ruler" can simply negate them with its effect.
This card also hinders a majority of Graveyard effects and Graveyard revival cards.