The world's most popular board game will have its own movie coming soon.

Variety is reporting that Lionsgate and Hasbro are teaming up to create "Monopoly" and has chosen Andrew Niccol to write the screenplay. Lionsgate will help finance the film while Hasbro and Hasbro Allspark Pictures will help produce it. The story will revolve around a boy who lives at Baltic Avenue and begins a quest to make a fortune.

According to The Guardian, the movie will be "a film for all ages, visually sumptuous, heartwarming, and full of action and adventure."

Niccol, who is best known for writing and directing the the 1997 sci-fi film "Gattaca," will be creating his own version of the classic game. It is not known if he will take ideas from the original version worked on by Frank Beddor. Niccol also wrote "The Truman Show," which received positive reviews. The writer and director has struggled to find his niche ever since, with "The Host," "In Time" and "Good Kill" all failing at the box office.

Monopoly, which was created in 1903, has been played by more than 1 billion people in 114 countries around the world and has been translated into 47 different languages.

Lionsgate has been busy with other movies such as newest "The Hunger Games" and the "Transformers" films, but they are determined to make this movie a success.

Hasbro has attempted to launch the Monopoly movie in 2009 with Ridley Scott being tapped as the executive producer, but it didn't make it past the developmental stage.

This is not the first time Hasbro has converted a board game to a feature length film. Last year, the board game "Ouija" was converted into a movie. A sequel is in the works for "Ouija."

There is no release date for "Monopoly."