This is a toggle command. Using this command will enable or disable infinite weight for your character, meaning you will not have any weight restrictions. When enabled, the maximum amount of inventory slots that you can have is 299 and you are only able to transfer up to two times the max carry weight of a creature into its inventory.
Find below information relating to the InfiniteWeight command in Ark.
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This is the only way to use the InfiniteWeight console command. If you haven't already enabled infinite weight, running this command will enable it. Otherwise, running this command will disable it.