The film, casting the actor as a fictionalised version of himself, will be directed by Tom Gormican, from a screenplay co-written with Kevin Etten.
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Cage has most recently starred in Panos Cosmatos’ violent thrill-ride Mandy, and Southern Gothic eerie tale Grand Isle.
The Unbearable Weight of Massive Talent was first announced last November, with production company Lionsgate in talks to seal the deal.
The plot will see Cage working towards a role in a Tarantino film, but then reluctantly accepting a job to attend a Mexican billionaire’s birthday party due to a handsome $1 million fee.
Things take a turn, kidnapping and drug cartels get involved – and Cage must rise to the occasion to save lives.
No further cast members have been confirmed yet for The Unbearable Weight of Massive Talent, and it remains unclear whether filming has begun yet.
Meanwhile, Nicolas Cage has responded to online calls for him to play Superman – explaining that he’d much rather take on the role of a villain.
Later this year, Cage will star in Richard Stanley’s Lovecraft adaptation, Color Out of Space.