Ah, the Venice Film Festival, where Oscar contenders sometimes open. A few years ago, you’ll recall, it was “Spotlight,’’ which premiered to a standing ovation from the sun-kissed crowd and went on to win the Academy Award for best picture.

This year, it might be ‘‘Downsizing,’’ a sci-fi-themed drama starring our very own Matt Damon. The movie, directed by Alexander Payne, premiered at the Venice Film Festival Wednesday and the early word is good. The Guardian, for example, calls it a “miniature masterpiece.’’

Damon plays an everyman character who does his part to address the problem of overpopulation by shrinking himself to 5 inches tall. (For European audiences, that’s 12 centimeters.) The movie costars Kristen Wiig, who also costarred with Damon in “The Martian,’’ as well as Christoph Waltz and Hong Chau.

They didn’t win the best picture Oscar, but “Gravity’’ and ‘‘La La Land’’ also premiered at Venice and won Academy Awards. Pictured (from left): Damon, Wiig, Chau, and Payne.