Its played in every format it's legal in, simply because its unrestricted disruption and cheap mana cost make it an essential control card for every blue deck
Multiversal Passage This is akin to softer fetches like Prismatic Vista and Fabled Passage than true fetch lands
Its a good mix of basically everything you want to do, and Anowon is a great choice for people who want to be a little more aggressive
With Miku, Queen Electric, as your commander, you can stay on top of your deck and keep your creatures at full health by exiling them and bringing them back
Cheating big creatures into play on the cheap is always a lot of fun
And the rarest of the rares, the one and only serialized, golden Traveling Chocobo, of which there are only 77 numbered copies