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Sundance favorite, "Beasts of the Southern Wild," debuts new trailer

(CBS News) "Beasts of the Southern Wild" debuted at this year's Sundance Film Festival and walked away with the festival's top grand jury prize.

Now, the film, which was bought by Fox Searchlight, has released a new trailer that is creating even more buzz.

Pictures: Sundance Film Festival 2012

The film follows a poor Louisiana girl named Hushpuppy, played by 8-year-old Quvenzhane Wallis, and her father.

The trailer makes it apparent why first-time filmmaker Benh Zeitlin, 29, also won the cinematography prize at the film festival - with gorgeous shots of Hushpuppy traveling around the South, captured on Super 16-millimeter film.

New York Times critic Manohla Dargis called it "the standout" of Sundance and "among the best films to play at the festival in two decades."

The film is about to enter into competition in the Un Certain Regard section at the Cannes Film Festival. Some are already talking Oscars, but will the film make it all the way to awards season?