Mattel(NEW YORK) -- There was a time when people thought you couldn't turn LEGO into a hit franchise. But now that those toys and The Transformers made billions at the box office, why shouldn't the Magic 8 Ball have its shot on the big screen?

Mattel Films has just signed with Blumhouse, the horror studio that brought you the Oscar-winning movie Get Out to theaters, to make a movie centered on the mysterious, question-answering plaything.

Jeff Wadlow, who called the shots on Kick-Ass 2 and Truth or Dare, is directing and co-writing.

In a statement, Robbie Brenner of Mattel Films said, "Since the 1950s, Magic 8 Ball has inspired imagination, suspense and intrigue across generations. This iconic toy has a built-in connection with fans and untapped potential for storytelling."

He added, "There are no partners better suited to tell the Magic 8 Ball story...than Jeff Wadlow and Blumhouse Productions, whose unique approach to the thriller genre has captivated audiences worldwide and has gained widespread accolades."

As for what the movie's box office fate will be, as the ball might say: "Ask again later." After all, for every Bumblebee, there's a Bratz: The Movie.

Mattel Films is also developing movies based on its ViewMaster toys, as well as its classic Masters of the Universe and American Girl lines.

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