Along with the announcement of James Gunn's newest project, 'The Belco Experiment', the director brings great news on the development of 'Guardians of the Galaxy 2.'

According to him, his idea for the movie has been green lighted by Marvel, despite the studio believing the idea initially be "risky."

"I turned in my treatment. I'm going in to meet about it Friday and we will start working on the screenplay next week," Gunn stated using the Periscope social media broadcasting app.

During his live Q&A session, Gunn reveals a lot more info on the 'Guardians of the Galaxy' sequel.

He states:

"Hardest part of Guardians of the Galaxy was setting up and designing the characters - making the sequel that much more easier having the core characters already realized."

"Ronan is a bad guy, we killed him. Not everything is going to happen in the movies the same as the comics."

"Might have figured out a way for Karen Gillan to play Nebula in the sequel without having to shave her head."

'Guardians of the Galaxy 2' is set to premiere May 5^th, 2017.