Despite being very faithful to Alan Moore and Dave Gibbons' classic comic, there remains a strong contingent out there that does not like Zack Snyder's Watchmen. I'm not one of them. Anyway, ten years have passed since Warner Bros. brought his live-action vision to the screen, and now they may be looking to give it another shot, only this time it'll be animated.
CBR noticed a survey by Warner Bros. "A-List Community" program that wanted the fans' opinions on various upcoming projects. Just to make it on to the survey it has to be something in active development, so that suggests this is a real thing. This version of Watchmen would be an animated made-for-video movie with an expected R-rating from the MPAA. They further describe it as "A faithful adaptation of the Watchmen graphic novel executed in an animation style that mirrors the source material."
Warner Bros. Animation has been going further into darker, more graphic material like with Batman: The Killing Joke and The Dark Knight Returns. Chances are Watchmen will take a similar approach. Interestingly, you don't see Moore or Gibbons mentioned anywhere, so it stands to reason they aren't involved. Actually that's not a surprise when it comes to Moore because he hasn't wanted any kind of Watchmen follow-up ever, and hated that they let Snyder make a movie.
Hopefully we'll get some concrete details that go beyond some survey.