"Thor: Ragnarok," the latest installment in the Marvel Cinematic Universe film series, has just been released this Friday but it is already being recognized by critics as one of the best films in the franchise. The box office hit may also see the film as one of the most commercially successful ones.

According to film reviews aggregator Rotten Tomatoes, the film has received a 93 percent approval rating from over 250 reviews, with the average score being 7.5 out 10.

This puts the film in the top tier of comic book-based films in terms of critical approval, with only genre juggernauts "Iron Man," "The Dark Knight," and "Spider-Man 2" topping it with 94 percent ratings.

The many positive reviews that the film has received cites "Thor: Ragnarok's" breezy fun and unapologetic humor as its main draw. The film is very enjoyable in its visually-pleasing action as well as its witty banter.

While it is the third solo "Thor" movie in Marvel's interconnected cinematic galaxy, "Thor: Ragnarok" is in many ways a badly needed reinvention for the film series.

The first two films were largely viewed as unremarkable entries that, though commercially successful, did not really make a lasting impact in the minds of movie-goers. Director Taika Waititi sought to change that by giving the third movie, as well as Chris Hemsworth's thundering protagonist a big makeover.

In "Thor: Ragnarok," the Asgardian god of thunder's iconic long hair was cut short, and he was placed in brand new planets which introduced a host of new characters to the story. He also had to navigate the film's conflicts without his hammer, which was handily destroyed by the new super villain Hela, played by Cate Blanchett.

The movie is also very different from its predecessors in terms of its tone. The film is more sunny compared to the "Thor; The Dark World," which was very faithful to its title. It is also remarkably, funny, and hurls out jokes and comical quips very generously.

In terms of commercial success, the movie is doing very well for itself, with opening weekend earnings projected at $115 to $120 million.