Yes. Of course there are safety considerations due to having a boat on tow, such as slower speed and you should stick to calmer conditions than you may when not towing.
Along with towing to carry extra gear, I have also seen people use the towing to bring a different boat out. So paddle your long boat towing a play boat or surf boat, and when you get to your destination, leave the long boat on shore and use the play boat.
Last year, in Alaska, we towed extra boats because we had so much gear. We were up on the northern tip of Kodiak Island for 2 weeks cleaning beaches, so we need stacks of garbage bags and heavy duty work clothes. Plus we were base camping (9-10 days at one camp site), so brought large tents and even a portable wood stove for comfort. The guy who put the trip together was an NDK dealer in his past life, so we had a fleet of NDK boats (and some Valley boats). Even with some in the group in large doubles and having a pair of Sea Wind canoes, we still towed 2-3 singles with gear.