Everyone's favorite Hobbit lets loose and trades the One Ring for a knife.

Yes, that's right - Elijah Wood's latest project, the indie "Maniac," is now confirmed to be in production as set photos surface online.

In multiple stills revealed by Digital Spy, the "Lord of the Rings" star sports a bomber jacket accompanied by jeans. The particular scene shows him holding a knife over one of his victims, played by Genevieve Alexandra.

Surprisingly, Frodo isn't a stranger to violent flicks. He starred in 2005's "Green Street," taking on the role of an expelled student who gets tangled up in the violent underground community of London's football hooligans.

On the same year, Wood was also part of the ensemble film "Sin City," playing Kevin, a deranged killer.

"Maniac" is a remake of a 1980s slasher film of the same name. It tells the story of Frank Zito, a mannequin store owner who stalks and tracks down beautiful women before killing them eventually.

The original is said to be uncomfortably gruesome, and it would be exciting to see if the remake could keep up. However, the plot is going to be modernized a bit: the Internet will be incorporated into the storyline as Frank's means of preying.

French production company P2 (responsible for the film of the same name) holds the rights of the remake.

On the helm is first-time director Franck Khalfoun with a script penned and produced by the more experienced Alexandre Aja and Gregory Levasseur. William Lustig, the one in charge of the original, is still attached to co-produce the new version.

"Maniac's" cameras are currently rolling in Los Angeles, and is set for a 2013 release date.

Until then, fans of the former child actor can catch him on "Happy Feet Two," currently on cinemas. 2012 also holds a slew of films from Wood including "Celeste and Jesse Forever," :Revenge for Jolly" and the highly anticipated "Hobbit" films.

Speaking of "The Hobbit," which is undoubtedly the final movie related to the "Lord of the Rings epic, audiences can only hope for young Baggins to outgrow the role and finally commend his versatility in future projects such as "Maniac."