Recent news has suggested that Paramount Pictures has set its eyes on remaking a live action adaptation based on 'Beyblade'.

The anime series is initially based on customizable toy that saw some popularity over a decade ago. The toys originated in Japan and were sold to Hasbro in 2001.

"The studio has acquired rights to turn Beyblade into a live-action feature that will be produced by Mary Parent through her Disruption Entertainment banner. Beyblade is a line of customizable toys modeled after traditional Japanese fighting tops, developed and manufactured by Takaratomy, the creator of Transformers. The toys have been perennial strong sellers around the world and previously spawned multiple TV series, animated features and video games in markets around the world. The toys have generated $2.5 billion in revenue," writes Deadline.

Movies based on toys such as 'G.I. Joe' and 'Transformers' have been a hit or miss in the recent years, although 'Beyblade' as a brand or television series hasn't been relevant in a number of years.

In its prime, 'Beyblade' spawned a number of animated movies, video games and spin-off series.

"Paramount has had enormous success in adapting Hasbro's Transformers toys into a major film franchise, but its two G.I. Joe films have only performed moderately well at the box office. Meanwhile, Universal achieved amazing low-budget profitability with Ouija while the expensive Battleship utterly sunk. Beyblade has an extensive mythology with worldwide recognition to adapt, although it lacks the nostalgia factor of those previous properties and may prove a tough sell to older millennials and their parents," writes Coming Soon.

A release date or title for the live action movie has not yet been announced.