In this case, that damage reduces your life total as normal.
Ojer Taqs ability reads If one or more creature tokens would be created under your control, three times that many of those tokens are created instead. MTG Token decks can churn out a large, reliable supply of small creatures, and this card can create a veritable horde in a short space of time
Complimenting it
He wanted to avoid making another cycle of chimeras and wanted to make use of the spikes +1/+1 counter synergies by moving counters onto other creatures
There's some great cards in here that will be useful in your Rise of the Floodborn collection, particularly the Merlin and Madam Mim cards, but otherwise this is the least competitive deck you can get.
We knew that four-color decks presented a special challenge for getting access to all of your colors of mana, so we spent some time identifying rare dual lands that we didn't think we'd want to put into booster packs in the near future