Activate Niv-Mizzet by paying {U}{R}, dealing 1 damage to any target.
Malcolm and Niv-Mizzet trigger.
Resolve the Niv-Mizzet trigger, allowing you to draw a card.
Resolve the Malcolm trigger, creating two Treasure tokens.
Activate the Treasures by tapping and sacrificing them, adding {U}{R}.
Repeat.

Infinite card draw

Infinite damage

Infinite draw triggers

Malcolm, Keen-Eyed Navigator

Niv-Mizzet, Dracogenius

Xorn

Maskwood Nexus

Arcane Adaptation

Activate Niv-Mizzet by paying {U}{R}, dealing 1 damage to any target.
Malcolm and Niv-Mizzet trigger.
Resolve the Niv-Mizzet trigger, allowing you to draw a card.
Resolve the Malcolm trigger, creating a Treasure token.
Activate the Treasures by tapping and sacrificing it, adding {U}{U} or {R}{R}.
Repeat.

Goldspan Dragon

Xenograft

Combos with "Niv-Mizzet, Dracogenius"