At the beginning of each player's upkeep, that player exiles a card at random from their hand. The player may play that card this turn. At the beginning of the next end step, if the player hasn't played the card, they put it into their graveyard.
This has the supertype world. When a world permanent enters, 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 at the same time, they're both put into their owners' graveyards.