Brand new 128MB Playstation2 memory card, in retail package.
The normal capacity of PS2 memory cards is 8MB, this has 16x as much memory !

Has identical functionality to an original Sony memory card, but with higher capacity.

Used for saving games on the Playstation2. Compatible with all models of PS2.

For saving Playstation2 games only.
PS1 games can't be saved on any PS2 memory card(including official Sony memory cards) Apparently you can backup PS1 saves to your PS2 memory card, but you need to copy them back to a PS1 memory card before using them.

NOTE: as 8MB is the official/standard memory card size, some games won't work with any brand of memory card larger than 8MB. Apparently this is very rare though - only a few games from info I could find.