The intriguing physics of vanadium dioxide (VO2) makes it not only a fascinating object of study for fundamental research on solid-state physics but also an attractive means to actively modify the properties of integrated devices. In particular, the exceptionally large complex refractive index variation produced by the insulator-to-metal transition of this material opens up interesting opportunities to dynamically tune optical systems. This Perspective reviews some of the exciting work done on VO2 for nanophotonics in the last decade and suggests promising directions to explore for this burgeoning field.