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There may be a long 12 month wait until the J.R.R. Tolkien 1937 fantasy children’s novel, The Hobbit, hits the big screen, but the captivating visuals of the movie trailer already has The Lord of The Rings fans in a frenzy of anticipation.

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The release of the prequel comes on the heels of director and producer Peter Jackson’s celebration of the 10 year anniversary of the film debut of The Lord of the Rings: The Fellowship of the Ring.

The Hobbit takes place 60 years before the events that unfold in The Fellowship of the Ring and follows Bilbo Baggins’ journey to reclaim the lost Dwarf Kingdom of Erebor from the treacherous dragon Smaug.

The film is estimated to have exasperated a $500 million dollar budget and is expected in theaters December of 2012.