Cate Blanchett (Thor: Ragnarok), Finn Wolfhard (Stranger Things) and Tim Blake Nelson (Watchmen) have joined the cast of Guillermo del Toro's Pinocchio, which will debut on Netflix. Their roles were not revealed.

According to The Hollywood Reporter, del Toro also signed a multi-year agreement with the company to produce new movies and TV shows. Details about the deal were not disclosed, but it is believed to give the director creative freedom with his projects. Netflix, on its part, trusts del Toro to produce content that spans genres, audience groups and mediums.

RELATED: Pinocchio: Robert Zemeckis to Direct Live-Action Disney Remake

The Pinocchio director already has a strong relationship with Netflix, creating the animated Tales of Arcadia trilogy which just concluded its run with Wizards. A feature film taking place in the same universe, Trollhunters: Rise of the Titans, is set to debut in 2021. On the live-action side, he is directing  Nightmare Alley, which is set to restart production in the fall after being halted by the coronavirus.

Blanchett, Wolfhard and Nelson join already announced cast members Ewan McGregor and David Bradley, who are portraying Jiminy Cricket and Geppetto, respectively. Other cast members include Ron Perlman, Tilda Swinton, Christoph Waltz and Gregory Mann.

RELATED: Disney's Live-Action Pinocchio Circling Tom Hanks to Play Geppetto

Del Toro's Pinocchio has been in development since 2008. Gris Grimly and Mark Gustafson were originally attached to direct, but del Toro took over directorial duties in 2012. The stop-motion animated musical looked like it was on the brink of collapsing in 2017, as it was in need of $35 million more in funding. However, in 2018, Netflix acquired the film. It is currently set to release in 2021.

Guillermo del Toro's Pinocchio project should not be confused with Disney's live-action adaptation. Robert Zemeckis is directing the film with a script from Chris Weitz. No cast or dates have been announced, but the House of Mouse is reportedly looking to cast Tom Hanks as Geppetto.

Pinocchio is the latest classic tale to get a modern treatment, with Atlantis: The Lost Empireand Hercules also in development. While no details are available for Atlantis, Avengers: Endgame directors Joe and Anthony Russo will be producing Hercules with Shang-Chi and the Legend of the Ten Rings' Dave Callaham writing the script.

Co-written and co-directed by Guillermo del Toro, Pinocchio stars Ewan McGregor, Ron Perlman, Tilda Swinton, Christoph Waltz, David Bradley, Gregory Mann, Cate Blanchett, Finn Wolfhard and Tim Blake Nelson. The film is set to release on Netflix in 2021.

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