It's still getting charge counters whenever the equipped creature deals combat damage, and the charge counter persists even if the equipped creature dies or it gets equipped to another creature
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Another example, Extremely Slow Zombie, has four different arts showing the zombie slowly reach out to grab you over the course of a full year
It's also in the colors of artifact support in Azorius so there are tons of cards that will love this thing
1 The Ur-Dragon The First Dragon Anyone who has played with or against The Ur-Dragon knows that hitting the required nine mana to cast it is a walk in the park in Commander
He subsequently Tributed his 2 monsters on the field and announced that he was playing "Blue-Eyes White Dragon" (which he just drew that turn)