Obsidian rock are formed when lava cools very quickly above ground, similarly to how pumice and lava rock are formed. I've been told that since they are dense, have rough edges, and may contain minerals in them that are harmful to reef tanks they are not a good option. I have a couple pieces you can have if you want them.

The live rock that everyone is using nowadays are much more porous which allows the rock to do a better/faster job with converting nitrate to nitrogen gas (of which evaporates out of the water quickly) and allows critters to move through them for hiding places, helps buffer the pH since it is calcium based, and you don't need to worry about minerals leaching out of them killing off sensitive corals and inverts. If you used your obsidian pieces in the past with success in a reef tank then it should be safe to use your Obsidian rock, but they won't do as good of a job with converting nitrate and buffering your water column.