Update:

Joseph Gordon-Levitt has not only confirmed his involvement with Sandman on Twitter, but he also indicates that Neil Gaiman is a part of the long-awaited adaptation of his work. The use of the hashtag #Prelude also likely hints that the film will be based on Gaiman's first Sandman story arc from the comics, "Preludes & Nocturnes."

Ladies and gentlemen, I'm incredibly honored to be working with David Goyer, Warner Bros, and @neilhimself on SANDMAN. #Prelude — Joseph Gordon-Levitt (@hitRECordJoe) December 17, 2013

Original story follows:

Looks like those rumors about Joseph Gordon-Levitt making a movie based off of Neil Gaiman's landmark graphic novel The Sandman were accurate.According to Deadline , JGL is set to re-team with The Dark Knight Rises' David Goyer on Warner Bros.' long-gestating adaptation of the classic comic book.JGL will star (presumably as the lead character Morpheus) and also direct the film with Goyer producing it based on his own pitch for how to adapt it for the screen.Deadline believes The Sandman "would be a highly original potential franchise, if Goyer, Gordon-Levitt and Warner Bros could pull it off."JGL recently made his feature film directing debut with Don Jon, which he also starred in alongside Scarlett Johansson.