Board Thread:Naruto News/@comment-3001903-20150502024509/@comment-24168857-20150502033816

Interesting theory, but also may be a bit far fetched. The Izanagi doesn't grant the user the ability of immortality, but it grants the user the ability to change their opponents perception of life or death; casting a genjutsu which makes death appear as if it were a dream.

Using the eight gates w/ Izanagi, would still give the same result as using eight gates w/o