As long as you can pay the cost each time, you can use the same activated ability as many times as you like
Card Name Mana Cost Type Artifact Equipment Rarity Mythic Rare rules Text Equipped creature gets +2/+2 and has protection from red and from blue.Whenever equipped creature deals combat damage to a player, this Equipment deals 2 damage to any target and you draw a card.Equip Number 365 Language English Legal Formats Commander, Legacy, Modern, Vintage Not Legal Formats Alchemy, Brawl, Competitive Brawl, Historic, Pauper, Pioneer, Standard, Timeless Rulings (8/7/2020) If the chosen target is an illegal target by the time the triggered ability tries to resolve, the ability won't resolve
Its suitably at the highest rarity and also legendary
We'll share all the details with debut on February 20, but take an early look at the set with A First Look at Magic: The Gathering Fallout and check out the card preview schedule here