Yes, you hear it right. Ridley Scott, together Kevin Macdonald and Youtube are teaming up to make a feature film based on YOUR life. Ideally, people are to submit on 24th July 2010. The team will pick the best entries to make them into a feature film.
So, if you are interested, make sure that you film something on the 24th July and send it to Youtube. BTW, if your film is selected, you might be one fo the 20 people to attend the premiere at the 2011 Sundance Film Festival. Here is a short intro to the project.