James Franco has Oscar potential portraying Tommy Wiseau, creator of cult classic, The Room.

Tommy Wiseau, James Franco, The Room, The Disaster Artist

Tommy Wiseau — lead actor, director and writer of the cult-classic to end all cult-classics The Room — has never won an Oscar, and realistically probably never will. However, his legacy lives on as James Franco now has potential for award nominations by portraying Wiseau in The Disaster Artist.

A24 released a new trailer for the film:

The Disaster Artist tells the insane true story about Tommy Wiseau’s quest to create The Room — a project he cared deeply about and thought would be a masterpiece, but wound up being, well, not so great.

RELATED: Interview with Tommy Wiseau the filmmaker behind 'The Room' and Hulu's 'The Neighbors' [Exclusive]

For those of you who have never seen The Room, check out these clips so you can understand what we’re talking about:

The film has gained a certain reputation for being unintentionally hilarious. However, it still screens somewhere in Los Angeles nearly every weekend to large audiences - so maybe Wiseau really did win after all.

This new trailer for The Disaster Artist looks like it’s about to capitalize on all of The Room's absurdity. Similar to 1994’s Oscar winning Ed Wood, there is something that seems so captivating and watchable about a tortured artist trying to create something beautiful.

Franco looks incredible in the role of Wiseau, and seems to have nailed his voice and mannerisms perfectly. The film also stars Franco’s real-life brother, Dave Franco, as Greg Sestero — the actor who plays Mark in The Room. Seth Rogen, Zac Efron, Alison Brie and Lizzy Caplan also appear in the film.

The Disaster Artist will be released on Dec. 8. For now, we’re just going to start watching The Room on repeat in order to properly prepare.

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