The 45-year-old came out as transgender in 2013 in a revealing interview with Outsports and Sports Illustrated - which caused a massive debate with the MMA community.
Anti-transgender legislation is currently being discussed in a number of US states and it could have a significant impact on trans athletes competing with the gender they identify as.
Discussing the film, Fox said in a statement per Hollywood Reporter: "I've had a great time so far working with the producers and writers bringing this story to life, and I hope this film sheds some light on the topic of trans athletes in sports.
Hey y'all! I feel honored to be able to tell you all that there is a movie in development by Mark Gordon Pictures chronicling my life! :movie_camera::clapper:https://t.co/gBONqLsW1B- Fallon Fox (@FallonFox) April 21, 2021
"This story needs to be told now more than ever."
It is set to be written by the team of T Cooper and Allison Glock-Cooper, with production duties going to Mark Gordon and Bonnie-Chance Roberts, alongside John Papsidera.
Roberts said: "Fallon Fox is a remarkable woman and athlete who has withstood and achieved so much in her life and whose story is far too little known. She is a universal, living icon of strength and persistence.
"It is a true honour to work with her, and the indomitable writing team of T and Allison Cooper, to bring her experiences more to light and to share her with the world."
The UFC commentator had been accused of making a transphobic comment during the March 19 edition of the show.
"There are people who really have these thoughts," the 53-year-old said. "The problem is, it becomes a protected subject, and then you get praised for transferring your gender - for changing your gender.
:speaking_head:️ "Joe Rogan is being transphobic yet again...Spotify needs to cancel his show."- SPORTbible (@sportbible) April 2, 2021
Fallon Fox, the first openly transgender athlete in MMA, has called for Joe Rogan's show to be cancelled after yet another transphobic comment.https://t.co/GvjAFU2oue
"And then it gets exciting for people to talk about, and then you get chastised for even discussing it in any weird way.
"People who were marginalized for being - like, generally dumb people, if they transfer over and become another gender, then they get praised.
"There are a lot of people who are idiots, but then they become trans, and now all of a sudden we think they're amazing."
Rogan has previously hit out at Fox being allowed a license to fight women in MMA.
Featured Image Credit: Fallon Fox/Instagram
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