Cause an artifact to enter the battlefield under your control.
Weftstalker Ardent triggers, dealing 1 damage to each opponent.
Malcolm triggers, as Weftstalker Ardent is a Pirate due to Arcane Adaptation, creating a Treasure token for each opponent dealt damage this way.
When the Treasure(s) enter, Weftstalker Ardent triggers that many times.
Resolve the first Weftstalker Ardent trigger, dealing 1 damage to each opponent.
Repeat from step 3.
By setting Arcane Adaptation to name Pirates, you turn every creature you control into a Pirate to feed Malcolm, Keen-Eyed Navigator's greed whenever damage is dealt to an opponent. This transforms the ping damage from Weftstalker Ardent's entry into a trigger that creates a Treasure token for each opponent. Because those newly minted Treasures are artifacts entering the battlefield, they immediately trip Weftstalker Ardent to deal more damage, looping the entire process into infinite damage and boundless riches.