I see these things at construction sites pretty often and have no idea what they are for.
It’s about 5 feet tall, 2 feet wide, 2 feet deep, 3-inch wall thickness and hollow. Big circular indents on each side. They’re usually empty, sometimes with random litter inside.
What is its purpose?
It's one of those language totems from No Man's Sky
You have learned the korvax word for “concrete”
Grah!