Warner Bros Making Minecraft Movie

So I found out this morning, from two completely unrelated sources that Warner Bros and Mojang have confirmed that they are working on a Minecraft movie.

Here's the article from Polygon where I first heard about it.

Markus "Notch" Persson (Mojang co-founder) confirmed this yesterday. And in his response to Polygon added that he is "very well aware that this might be Minecraft jumping the shark, but how often do you get to be part of making a movie?"

Thoughts on this development? What about the fact that it's apparently going to be live action? (Okay, seriously, how is that even going to work?????)