Variety reports that Convergence Entertainment acquired the live-action film rights to Gungrave. Convergence intends to fund the project with a $30 to $35 million budget. Tim Kwok will serve as the film's producer, and Red Entertainment's Yasuaki Nagoshi (Sakura Wars) will fill the position of executive producer.

Previously, Convergence licensed the live-action rights to the Wicked City anime, The King of Fighters video games, and the Clock Tower video game. Currently, The King of Fighters is in post-production, while Clock Tower is still in pre-production. Both films are slated to hit theaters next year.

Gungrave is a video game franchise by Red Entertainment that was created by Trigun creator Yasuhiro Nightow and Ah! My Goddess creator Kousuke Fujishima. The games received an anime adaptation that ran from October 6, 2003 to March 29, 2004 and spanned 26 episodes.