It's for switching versions of your local CLI tools quickly.
> asdf is a CLI tool that can manage multiple language runtime versions on a per-project basis. It is like gvm, nvm, rbenv & pyenv (and more) all in one! Simply install your language’s plugin!
For example:
$ asdf global python 3.6.2
$ python -V
Python 3.6.2
$ asdf local python 3.9.1
$ python -V
Python 3.9.1
"asdf local" stores the version to use for the current directory across shells, which is neat. "shell" is for the current session, and "global" is for the system.