http://ampersandart.com/the-story-of-hardbord.php.
Golden’s Acrylic GAC 100 is what most artists use to seal it for painting (as a canvass)
A primer is prefered as far as paint goes. Primers job is sealing, unless you need a clear coating, then a product called "sanding sealer" MIGHT work on hardboard as well as it does on wood. The small size makes anything questionable. (Ties right? And not a "plate" with additions on it?)
HW, It's hardboard, not hard wood. Hardboard, fiberboard, pegboard, its Masonite, but I've heard it called lots of things.
I'm sure you likely know, but its wood dust, maybe with other fiber,and glue basically. Pressed and cured, and sometimes tempered with oil and heat, and it doesn't usually like to be wetted in any way, it contracts causing warp, surface change, flaking, etc. So with the cost of a switch in mind, sealing might not be a bad idea. (But test that theory before you do the full job with anything.)
Lacquer would be about the fastest drying common seal you can use but is thin and penetrates. Light coats (dusting) will penetrate less, and pull less at the surface as it cures. There are lacquer primers too.