Kevin Feige has confirmed that Ronan the Accuser (played by Lee Pace) is the main villain in Guardians of the Galaxy. However, Thanos will have a part in the movie. Feige describes the scene as Ronan being the big villain with Thanos sort of overseeing it all and that we will see more than just a couple seconds of him like we did after The Avengers.
There is still no word on casting for Thanos. Some are suggesting that James Gunn and Marvel could pull another trick on the audience like Shane Black did with Iron Man 3. If you didn't know, the reveal of The Mandarin wasn't really what people expected. Could other characters like The Collector (Benicio del Toro) and Yondu (Michael Rooker) potentially be Thanos in disguise? Nothing is impossible as far as Marvel goes. I think they have proved that by now.
Seeing that Ultron has been revealed as the main villain for The Avengers 2 (aka, The Avengers: Age of Ultron) it is possible that they will tease us with Thanos for years to come. Some are speculating Thanos might not meet his final battle until The Avengers 3. Seeing that this movie leads directly into The Avengers: Age of Ultron, I wouldn't be surprised to see Ultron in one way or another. Even if it's just a post-credits scene.
Aside from villain news, Feige also confirmed that Guardians of the Galaxy takes place in the same timeframe as the other Phase Two films. I suppose that means there could potentially be subtle tie-ins or references to Iron Man 3, Thor: The Dark World, and Captain America: The Winter Soldier.
Guardians of the Galaxy hits theaters on August 1, 2014 and is the last part of Phase Two before The Avengers: Age of Ultron hits in 2015.
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