Yep, looks like it's happening.
Hasbro has officially handed production rights for an upcoming D&D movie off to Paramount Pictures and an official release date of July 23, 2021 has been set.
Earlier in the year Joe Manganiello who was helping with co-writing the script said this.
“Obviously, there’s a spectacle. There’s dragons breathing fire and lightning, But what makes a great superhero or fantasy movie is the human aspect. It’s got to be about something. We root for those characters in Game of Thrones. Fellowship of the Ring was about friendship, this undying love for your friends. That’s something everyone can identify with.”
Joe Manganiello then on his twitter feed, decided to give one more hint at the direction they would like the movie to take.