You're not dreaming. Polly Pocket is the next children's toy to inspire a movie in Hollywood, marking the latest in an increasing trend of new projects announced based on popular toys. A live-action Polly Pocket series is now in development set to write and direct. Lily Collins is also attached to star as the big screen version of the tiny toy, with the movie following "a young girl and a pocket-sized woman who form a friendship."

"I'm so thrilled to bring to bear both my love of this historic property and also my deep-seated belief that young women need smart playful films that speak to them without condescension," said Dunham. Lily Collins added: "As a child who was obsessed with Polly Pocket, this is a real dream come true and I can't wait to bring these tiny toys to the big screen."

The project is a collaboration between Mattel Films and MGM. Robbie Brenner and Kevin McKeon will lead the project for Mattel with Sandino Moya-Smith and Winnie Carrillo overseeing for MGM. Good Thing Going's Liz Watson and Michael P. Cohen are executive producing.

Previously, it was announced that Mattel Films and MGM are also developing new projects based on the View-Master and American Girl Doll toy brands. Other movies in development with Mattel Films attached based on the company's iconic toys include Barbie, Barney, and Hot Wheels. In April, it was also announced that Mattel Films and Universal Pictures would make a live-action Rock 'Em Sock 'Em Robots movie with Vin Diesel starring in the lead role.

"To take the classic Rock 'Em Sock 'Em game, with Mattel as my partner, and align it with the kind of world building, franchise making success we have had with Universal, is truly exciting," Diesel said in a statement at the time.

"We are proud to bring this iconic piece of Mattel IP to life on the big screen with our tremendously talented partners Vin Diesel, One Race Films and Universal," added Robbie Brenner, EP of Mattel Films. "Our rich library of franchises continues to yield compelling stories and we look forward to creating what is sure to be a thrilling action adventure for the whole family to enjoy with Rock 'Em Sock 'Em Robots."

Polly Pocket was originally created by Bluebird Toys before the brand was acquired by Mattel in 1998. The original version featured miniature figurines less than an inch tall, but the Mattel redesign made them larger with more lifelike features. There have been multiple animated movies released between 2003 and 2006, and an animated series adaptation was launched in 2018. The cartoon follows a young girl named Polly who has a magical locket that allows her to shrink to a tiny size, dissimilar to the plot of the live-action movie.

A release date hasn't been set for Polly Pocket: The Movie at this time. Meanwhile, Lena Dunham is working on the second season of the HBO series Industry while Lily Collins will soon appear in the second season of the series Emily in Paris on Netflix. This news comes to us from The Hollywood Reporter.