Steven Spielberg will direct and produce a big screen adaptation of Ernie Cline’s sci-fi novel Ready Player One. The movie, which takes place in the year 2044 in the virtual world of an MMO game called Oasis, centers on teenager Wade Watts competing in a real treasure hunt against ruthless opponents.

An outcast who plays the game to escape his own dreary life, Wade becomes one of many gamers around the world competing for the eccentric creator’s vast fortune, which is offered as a grand prize to the player who wins the elaborate treasure hunt. Wade is up against not only other gamers but also corporate foes, some of whom will do anything to get to the treasure first.

The screenplay was written by the accomplished Zak Penn, who is known for such high-profile movies as The Avengers and X-Men: The Last Stand. Penn’s collaborator was screenwriter Eric Eason, whose credits include the Brendan Fraser thriller Journey to the End of the Night.

Spielberg has done numerous films with Warner Bros, particularly during the 1980s, when he was establishing his Amblin production banner. The studio appears enthusiastic about the iconic director’s return after a 14-year absence.

Spielberg is expected to begin work on the project after he completes the adaptation of Roald Dahl’s novel The BFG.