That's a Kaffe Fassett shot cotton - a high-quality fabric that you have there. It does indeed feel extremely soft, but should be no less durable than any of your other cotton fabrics. I found this note on a web site, regarding this fabric:
"The Indian-woven cotton stripes, below, come in regular and irregular width designs with the same rich colors. These fabrics are more loosely woven than traditional cotton fabrics which means that they ravel more easily; however, the looser weave gives them a smooth hand and makes them perfect for hand quilting. The book recommends washing and starching the fabric before cutting."
I made an entire quilt (2 actually) out of his shot cottons - no interfacing or other lining. They quilted beautifully (admittedly I was not hand quilting).