Ross Nanotechnology has developed a product called Rust-Oleum NeverWet that does just what its name says. Just spray pretty much everything you own with NeverWet and it becomes basically waterproof.
NeverWet is designed to be used on multiple surfaces by creating a superhydrophobic barrier, which repels water. When any liquid hits this barrier, it forms beads that roll of the surface without clinging on. This is often referred to as the Lotus effect.
One video put out by NeverWet shows people dropping a NeverWet-enhanced iPhone in water without destroying it. Another video shows how spraying NeverWet inside a cardboard box creates a quick DIY icebox.
The kit includes two spray cans that help create a base coat and a top coat and is currently available at The Home Depot at Red Rose Commons in Lancaster, Pa., and is soon expanding to Home Depot stores across the country.