L. Frank Baum’s 1900 novel ‘The Wonderful Wizard of Oz’ is one of the greatest stories ever told. The 1939 Judy Garland classic ‘The Wizard of Oz’ remains of the greatest films of all time. And now, Disney has just unveiled the first trailer for a “prequel” to that classic story.

Directed by Sam Raimi (the first ‘Spider-Man’ trilogy), ‘Oz: The Great and Powerful’ stars James Franco as Oscar Diggs, a small-time circus magician who is hurled the same way Dorothy was from Kansas to the wonderful Land of Oz. But just when he thought he’s hit the jackpot in this mysterious land, Diggs meets three witches — Theodora (Mila Kunis), Evanora (Rachel Weisz), and Glinda (Michelle Williams) — and his adventures begin.

It’s pretty clear Disney is setting this up for a sequel, with this “prequel” being the one in which we see how the Wizard of Oz becomes who he is. From the 3D visuals, it’s also clear Disney hopes to repeat the success of the monster hit ‘Alice in Wonderland’ from two years ago. Will it? We’ll know when ‘Oz: The Great And Powerful’ hits theaters March 8th, 2013.