The Wall Street Journal broke the news that J.J. Abrams is going to produce a movie based on the Micronauts. The Micronauts are a toy line created by Japanese toy company Takara at the end 1970's, they were known as Micoman over there. Hasbro have since bought the rights and would like to emulate the Transformers box-office succes with this franchise too. A comic book based on the toy line was also published by Marvel.
The toy line was quite amazing:
And a solid mythology was built around the Micronauts:
"The Micronauts originate in the Microverse, a microscopic series of diverse habitats that are linked together in the fashion of molecule chains. The original team comes together in response to the threat posed by former academic and now murderous dictator, Baron Karza. Commander Arcturus Rann (returning from a thousand-year deep space voyage in suspended animation) and Biotron, his robot co-pilot, return on the HMS (Homeworld Micro Ship) 'Endeavor', to discover Karza has slain the royal family, who are in fact Rann's parents. What follows is an epic war across the Microverse: Rann and his allies against Karza.
At one point the team is somehow trapped for a time on Earth (where they are the size of toys) before retuning to the Microverse."
I bet the Micronauts movie will mainly develop the part with the Micronauts trapped on Earth, which would leave room for a movie sequel to Micronauts later on.
One may assert that the Micronauts aren't as mind-blowing as the giant Transformers, but should keep in mind that J.J. Abrams is producing the thing, and that he's a man dedicated to what he does. So I think we can have high expectations for the movie Micronauts: it's for sure gonna be awesome!
I'm damn impatient to discover the Microverse with the Micronauts!