(CNN) Jaden Smith could soon be stepping into the Yeezys of Kanye West.

Showtime is currently in development on a limited half-hour anthology series that would star Smith as a young Kanye West, a source familiar with the project tells CNN. The first season of the show, called "Omniverse," would center on an alternate reality version of West. The cerebral-sounding crux of the show is not easily explained but would involve the philosophical concepts of perception and Ego. West and Scooter Braun are set to executive produce, as will Smith through his family's Westbrook Studios. Read More Lee Sung Jin, currently a co-executive producer on Amazon's "Undone," is set to write.