The story of Thunderbolt Fantasy: Sword of Life and Death will be based in part on the Thunderbolt Fantasy Gaiden novel (which will be released in Japan on April 07, 2017), and in part on a new story penned by Gen Urobochi.
A new character named Tiě Dí Xian, the instructor of Shā Wú Shēng, will appear in the film.
The exact format and release date for Thunderbolt Fantasy: Sword of Life and Death have not yet been revealed, although it appears the project may be composed of 2 episodes released in an omnibus format, and the project is scheduled for release some time in 2017.