Does it even matter what they're working on, given the trio's Oscar-winning, dream-summoning, monster-mashing resume? Well, since you asked, it's a $300 million adaptation of a 500-year-old Chinese folk legend. Yes, that feeling is your interest getting piqued.
Gaiman has been hired by Chinese TV producer Zhang Jizhong to write Journey to the West, a planned film trilogy that would tell of the Monkey King, who traveled from China to India in search of Buddha's scrolls and brought a monk, a pig spirit and a fish spirit along with him.
Cameron is on board in an advisory capacity—consulting with Gaiman on the story and helping the production with the technical aspects of shooting in 3-D. As for Del Toro, Zhang has made overtures to the director, who seems to be receptive:
"[He] has shown a lot of interest but he wants to see the treatment first. Obviously the more celebrated the director, the busier they are."
Journey to the West will be shot in English, using a cast of both Western and Chinese actors. Gaiman is mindful of how precious this legend is to the people of China, but he's jazzed at the project's potential:
"There is nothing inherently Greek about The Odyssey. These are big stories that work with people. There are 2,000 pages filled with adventures. The delight and the challenge is to write a story that for 1.4 billion people is in their DNA."
(via Geek Tyrant)