Avi and Ari Arad, best known for their work on Marvel titles like Iron Man and Spider-Man: Into the Spider-Verse, are producing. Chernobyl's Craig Mazin is responsible for the script.
Like the Uncharted movie, the big-screen Borderlands project has been in development hell for a long time. Work started on it in 2015, so it's long overdue for a director and a production window. It's not surprising that Lionsgate would give the go-ahead with major names attached, at least. While the anarchic sci-fi shooter franchise is frequently seen as an underdog compared to the likes of Call of Duty, it has a large audience with over 57 million copies sold in series history, at least 8 million of those for B3.
The real question is whether it can stay true to the spirit of the series while holding up as a movie. Borderlands is well-suited in some ways with its Mad Max-like setting, warped humor and memorable characters, but something tells us it wouldn't be much fun to watch the lead actors sift through randomly generated weapons.