Way back in September 2014, we reported that Threshold Entertainment had joined forces with The Tetris Company for an adaptation of the beloved 1980s video game Tetris, which is being conceived as an "epic sci-fi" project There have been no updates regarding the project since then. Today we finally have word that the movie is moving forward, as a U.S.-China co-production. Threshold Entertainment's Larry Kasanoff (Mortal Kombat) is teaming up with Chinese media mogul Bruno Wu to bring the Tetris movie to the big screen, with the producers eyeing an $80 million budget.

The project is still being packaged as a sci-fi thriller, with Deadline revealing that production is expected to begin in China sometime in 2017, and will be the first of a planned trilogy. No story details have been released, and it isn't known how this arcade classic will spawn a movie trilogy quite yet. The project, which will be produced under a new joint venture entitled Threshold Global Studios, will feature an ensemble cast featuring actors from both America and China, but no casting has been announced. Here's what both Bruno Wu and Larry Kasanoff had to say in a statement.

"The team has been working with The Tetris Company for over a year, and with the formation of Threshold Global Studios, financing has been secured, the story has been created, and now Wu and Kasanoff will co-produce. Threshold Global will make cross-cultural movies for the global market."

Jimmy Lenner is executive producing for Threshold alongside The Tetris Company and Seven Stars. Dane Smith, a line producer who has worked on the Transformers, Harry Potter and Spider-Man franchises, has come aboard to implement "the unique Tetris VFX developed especially for the film." Larry Kasanoff is said to be at the Cannes Film Festival this week, meeting with sales agents for the project. Here's what the producer had to say in his own statement.

"Tetris, one of the most recognized video game franchises of all time, is a perfect first project for this strategy. For our debut project, Threshold Global Studios will bring one of the most beloved, cross-generational gaming brands in the world to the big screen."

Tetris was designed by Soviet game-designer Alexey Pajitnov, debuting in arcades in 1984 before becoming a worldwide phenomenon after crossing over into home gaming consoles like the Nintendo Entertainment System (NES). The project doesn't have a writer or director attached at this time. Since there is no actual mythology or back story to the original game, it remains to be see what the premise will be for the Tetris movie, so stay tuned for more updates.