Zelda 1987 (2011) video?

In the previous post that is on this board, someone stated that they would like a movie. Agreed.

But I have a question: Anybody know what this Zelda 1987 Trailer is all about? Was it a school project or something? Is it someone's treatment saying they want to make another tv series? Or was it something just used as a film festival thing? It is only listed as a 5 minute video since it is a trailer (SHORT). But there is no other entries for this so called "video" or there is no listings for untiteld zelda project. It sounds like to me some friends got together and did a 5 minute Zelda project. But if that is true, wouldn't they need permission from Nintendo of America (or affiliated companies)?