Despite earlier reports that the new series would reboot the sitcom for modern audiences, the project will only share some surface similarities to the classic, reported Entertainment Weekly.
The 46-year-old actor's production company, Overbrook Entertainment, is developing the potential show which as of now, has no script or network attached to it.
Smith has frequently performed the show's iconic theme song in public, including on The Ellen DeGeneres Show.
"Every country in the world, that is the thing I am most known for. No matter how big the movies get, it's 'Fresh Prince' everywhere," the actor had said.
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