In some fanfictions, it could be through a strange and powerful jutsu transfer. Maybe Madara, on the verge of defeat, decides to transfer his Rinnegan power to Naruto for some unforeseen reason, like seeing a new path for the ninja world in Naruto.
One possibility is through some sort of transplant or transfer. Maybe Madara, before his death, found a way to transfer his Rinnegan to Naruto. It could be a last - ditch effort to pass on his power to someone he saw potential in. Another way could be through some sort of ancient jutsu or curse that links their fates and causes the transfer of the Rinnegan.
Naruto would likely gain the ability to use all six paths techniques. The Rinnegan allows the user to manipulate gravity, as seen when Madara used it. Naruto could use this to enhance his combat skills, for example, pulling enemies towards him or pushing them away forcefully. He could also use the Preta Path to absorb chakra, which would be a great addition to his already large chakra reserves.
One implication is that Naruto becomes an even more powerful force in the ninja world. With the Rinnegan, he can access new abilities like the Six Paths techniques, which would make him nearly unbeatable in combat.
In some fanfiction concepts, it might be due to a unique chakra interaction. Maybe the Kyuubi's powerful and ancient chakra somehow triggers a latent ability within Naruto that results in the manifestation of the Rinnegan. It could also be part of some kind of prophecy or destiny within the fan - created world of the story.
It could also be a situation where Naruto's connection to Hagoromo is deepened in the fanfiction. For instance, Naruto might have a vision or a spiritual encounter with Hagoromo. During this encounter, Hagoromo realizes that Naruto is the key to bringing true peace to the ninja world. So, he imparts the power of the Rinnegan to Naruto to help him achieve this grand goal. This would be a more complex and involved process, perhaps involving Naruto learning about Hagoromo's past and his own role in the grand scheme of things.
In some fanfiction concepts, there could be a spiritual or mental connection established between Naruto and Nagato. Since Naruto has this unique ability to understand and connect with people on a deep level. Through this connection, Nagato might pass on the power of the Rinnegan to Naruto. It could be like a transfer of not just the physical power but also the knowledge and understanding that comes with the Rinnegan.
Naruto would probably win. He has an indomitable will and has always found ways to overcome powerful foes. His experience and the unique powers he might gain with the Rinnegan could give him an edge over Madara.
Naruto's perspective on the ninja world could change. With the Rinnegan, he would see things in a different light, both literally and metaphorically. He might have to deal with new enemies who are attracted to his new power or new responsibilities that come with such a powerful dojutsu. His relationships with his friends and allies could also be affected as they may view him differently now that he has this extremely powerful ability.
He might become much more powerful. With the Rinnegan, he could gain new abilities like the Six Paths powers, which would make him a force to be reckoned with in battles.