Based on the the best-selling novel by Ernest Cline, the project will start filming in June, said The Hollywood Reporter.
The movie also stars Tye Sheridan, Olivia Cooke and Ben Mendelsohn.
Set in a virtual world called Oasis, the story revolves around a teenager (Sheridan), who finds himself competing in a treasure hunt against ruthless foes after the game's founder dies and offers his fortune as the grand prize.
If things workout Pegg will play Orgen Morrow, the co-creator of Oasis.
The project is being produced by Spielberg through his Amblin Partners banner, along with Donald De Line, Kristie Macosko Krieger and Dan Farah.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%