'Amazing Spider-Man 3' movie update: Sequel unlikely to happen; what's next for Peter Parker?

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It's all but officially announced that Andrew Garfield will no longer play the web-slinging, wall-crawling friendly neighborhood superhero in Sony's superhero franchise. In a formal statement, Sony and Marvel announced that Spider-Man would next be part of the "Avengers" franchise operated by Marvel, a move that undoubtedly turns the tides for Peter Parker and his masked alter ego.  

If fresh reports are to be believed, Sony is setting its sights on wiping the slate clean and starting afresh, and for this, they obviously need a new face that will spark interest among the young crowd. In all probability, the story will be set against a backdrop that juxtaposes Peter Parker's high school problems with the responsibility of being the friendly neighborhood superhero. 

So, who will play Spider-Man next? According to reports from International Business Times, Sony is considering a slew of fresh faces who have already established themselves with positive performances. The names under consideration include Dylan O'Brien of "Teen Wolf" and Logan Lerman who made his mark in "Fury." The team at Sony is also said to be scouting for a new director to helm the rejuvenated franchise.

As Sony has made the decision to collaborate with Marvel, time is going to be a precious resource for them since Spider-Man is projected to be making an appearance in the next "Captain America" movie. "Captain America: Civil War" will be a crucial turning point as far as the Marvel Universe is concerned, and it is slated for release in mid-2016.

With Spider-Man stepping into the Marvel Comics Universe, it will be tricky maintaining continuity for both the Marvel-Sony plot as well as the solo-movie projects after "Captain America: Civil War."  At any rate, the turn of events has sparked renewed excitement for the superhero.