A newly restored version of Federico Fellini’s classic film “La Dolce Vita” was unveiled at the Rome Film Festival Saturday by American director Martin Scorsese, according to the Associated Press.

“La Dolce Vita,” Fellini’s most praised film, has been an inspiration to many of today’s excelling directors through its disobedience to the filmmaking formula of its time and critique of a decadent, hedonistic society.

Additionally, the film was nominated for four Academy Awards and ranked 11th of “The 100 Best Films of World Cinema” by Empire magazine this year. It is no surprise then that the film has been brought to the silver screen once again, and in time for the 50th anniversary of its release.

During the reveal of the renovated film, Scorsese shared the movie’s influential effect on him as a director and exerted his duty to show future generations an example of great cinematic work.

“‘La Dolce Vita,'” Scorsese said during a press conference at the film festival, “gave us the freedom to go ahead and break open cinematic narratives” and create “a spectacle of life, a spectacle of a society, a culture – and a satire.”

“La Dolce Vita” is the second of several films that Scorsese, along with fashion label Gucci, which has donated $1.5 million to his film foundation, will renovate.

In May, Scorsese revealed a restored version of Luchino Visconti’s “Il Gattopardo” (“The Leopard”), which was received gleefully at the Cannes Film Festival where it was shown.

Also revealed at Cannes were some of the great classic films Scorsese’s film foundation will restore in the future: Visconti’s “Senso,” Michaelangelo Antonioni’s “Le Amiche,” Barbara Loden’s “Wanda” and John Cassavetes’ “A Woman Under the Influence.”

In addition to these future projects, Scorsese will also release a DVD collection of his picks of Elia Kazan films. The collection will also include a documentary of Kazan’s life, produced and presented by Scorsese.

Kazan is one of the most beloved and notable Broadway and Hollywood directors, famous for displaying the hot button issues of contemporary society in his films. Scorsese’s collection of Kazan’s films will be available on Nov. 9.