Players can't gain life.
At the beginning of each player's upkeep, that player loses 1 life.
Whenever Forsaken Wastes becomes the target of a spell, that spell's controller loses 5 life.
This has the supertype world. When a world permanent enters the battlefield, any world permanents that were already on the battlefield are put into their owners’ graveyards. This is a state-based action called the “world rule.” The new world permanent stays on the battlefield. If two world permanents enter the battlefield at the same time, they’re both put into their owners’ graveyards.