Few movies are as notorious box office failures as Waterworld, the post-apocalyptic Kevin Costner flick set in a flooded world after the ice caps melted. However, over two decades after the movie flopped, its cult status and second wind of internet-fueled popularity are leading to a streaming series that is set in the same universe.

The as of yet untitled Waterworld series - it will possibly just be called Waterworld again - will be a sequel to the film following the same characters, 20 years after the events seen in the original. Producer John Davis returns, making it clear he never quite gave up on the concept, and Dan Trachtenberg is set to direct, as reported by Collider.

While this will be a direct sequel, it isn't clear whether any actors will be reprising their roles as older versions of the characters. In fact, this streaming Waterworld series is still super early in production. John Fox, producing partner of Davis, is also involved in the project, and shared some preliminary information.

We're not 100% sure on the approach to the show. But definitely, we're in the building stages right now.