According to TOLDJA! Marvel has set plans in place to move forward with a script for an Iron Fist film. They've hired Rich Wilkes (the "XXX" film series) to write the screenplay, which sounds all kinds of retarded to me, but I'm not a Marvel studios exec making these brilliant decisions so who am I to say anything.
In the Marvel Universe, Rand is the son of a wealthy explorer who trains in the mystical arts and eventually gains the power of the legendary Iron Fist, a magical fighting power that gives him indestructible fists. First using the power after his father's death, Rand continued to bear the mantle in the fight against evil. Later, Iron Fist popularly teamed with Luke Cage (Power Man), who allegedly also has his own film in development.
No word yet on who will direct or star, but more importantly I'm wondering if this is one of the planned smaller budget films we heard about before or if this will be a huge budget mega franchise similar to the also previously unknown Iron Man character. Will they introduce Iron Fist in the Avengers film in some capacity, maybe even him and Luke Cage will cameo before moving on to their own individual films. Either that or they may choose to release a short film in front of one of their many upcoming films like also previously reported. But I mean aside from the core fans of the character, who really cares?