Wastes is not a land type. If something asks you to name a land type, you canâ€™t choose Wastes.
The mana ability of Wastes doesnâ€™t appear on the printed cards, but it is in its official Oracle text. (A cardâ€™s Oracle text (in English) can be found using the Gatherer card database at Gatherer.Wizards.com.) The printed cards display a large colorless mana symbol in a design thatâ€™s similar to other basic land cards.
Similarly, colorless is not a color. If something asks you to choose a color, you canâ€™t choose colorless.
In Limited events (including Sealed Deck and Booster Draft), Wastes must be in your card pool to be included in your deck. You canâ€™t add Wastes to your card pool in the same way that you can add other basic lands.
Because Wastes is a basic land, you can include as many of them as you like in your Constructed decks.
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