Los Angeles, July 2 (AZINS) Lionsgate Studios is all set to adapt popular board game Monopoly for the big screen, the company said in a statement.

The project, which has Hasbro toy company on board, has also roped in screenwriter Andrew Niccol, known for movies that include "The Truman Show", "Gattaca" and "The Terminal", Efe news agency reported.

"Andrew Niccol is the ultimate world creator, responsible for such disparate and imaginative films," said Erik Feig, co-president of Lionsgate, on Wednesday.

"He is an inspired choice to develop this timeless property into a big, crowd-pleasing film that will appeal to kids, families and anyone who has ever played the Monopoly game," he added.

For Stephen Davis, executive vice-president of Hasbro, Monopoly "is one of the most popular games of all time" and its film adaptation will have "tremendous global appeal".

The story will revolve around a child, who decides to make a fortune in the housing market, and set him up on an adventure full of fun and obstacles that will teach him the true meaning of being rich.

According to Hasbro, Monopoly has been played by more than a billion people in 114 different countries and has been translated into 47 languages.