This is PGYTECH protective wrap, and it's more than just a thick soft cloth.
While the inside is indeed a soft microfiber fabric, the outside is a polymer nano something. In layman's terms, the outer side sticks to the inner side. Science!
This makes the wrap a truly versatile accessory. It can be used as intended: a protective wrapping for cameras, lenses, and other photographic paraphernalia. The larger version of the wrap measuring 45x45cm can serve as a lightweight laptop sleeve. The wrap also makes a good cleaning cloth. And it turned out that the wrap can act as an improvised rain cover. It won't do any good in pouring rain, but it can protect a camera and lense combo from light drizzle.