Megan Thee Stallion Stars in Pepsi Ad with NFL Stars Travis Kelce, Josh Allen and More: 'Huge Deal' (Exclusive)

Megan Thee Stallion feels like she has just finally made it.

The rapper, 29, stars in a new campaign for Pepsi, titled "Make Your Gameday Epic," ahead of the 2024-2025 NFL season.

In it, the "Body" musician stars as Empress Megan who leads football stars Travis Kelce, Josh Allen, Derrick Henry and Justin Jefferson in an epic showdown inspired by the upcoming Gladiator II film. The clip is soundtracked by "We Will Rock You (Megan Thee Stallion Version)" — an updated take on the Queen classic that features new lyrics from the Grammy award-winning artist.

In an exclusive conversation with PEOPLE, Megan says working with Pepsi made her take a step back and realize her own level of fame. "A lot of people always ask me, 'When is it that you feel like you made it?' ... and even though, thank God, that I've done so much cool s---, this is the first time I've done something where I'm like, 'Oh wait, I might actually be famous,' " she says with a laugh.

"A Pepsi commercial is such a huge deal," Megan adds. "I feel like it's the rite of passage that all the baddies have to go through, like Beyoncé, Britney Spears, Pink — and now Megan Thee Stallion."

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The three-minute commercial begins with two football fans (Lamorne Morris and Jake Lacy) sitting at a bar, discussing what their fantasy teams are looking like for the current NFL season.

After both order Pepsi, Morris, 41, and Lacy, 39, are transported to a Roman coliseum-esque setting, where Kelce, 34, Allen, 28, Henry, 30, and Jefferson, 25, gather in the center.

Megan then appears onscreen and demands the arena's gates be opened, promoting the release of various tigers that the NFL players must defeat together.

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At the end of the clip, Megan — who is set to host the 2024 Video Music Awards on Sept. 11 — joins the four men and grabs a Pepsi. "Let game day begin!" she declares.

The four players are then transported onto an NFL field, as the two men in the bar find themselves back in their seats.

Then, Kelce, on a TV screen before them, channels a line from the original Gladiator film, asking, "What? Are you not entertained?"

The new campaign is directed by Ridley Scott's son, Jake Scott, in collaboration with Paramount Pictures.

"Bringing the epic world of Gladiator II to life in a modern, dynamic way through this Pepsi campaign was incredibly exciting,” Jake, 59, said in a statement. “We wanted to create a visual spectacle that captured the energy and intensity of the sport while also paying homage to the iconic film and the original Pepsi campaign. The collaboration with Pepsi and the incredible talent involved made this project truly unforgettable."

As for getting to record her own version of Queen's "We Will Rock You," Megan tells PEOPLE, "I called my producer, and I'm like, 'We're about to make a song for Pepsi ... 'We Will Rock You,' the Hot Girl version. What am I going to say?' "

"The song is already so iconic, but I wanted Pepsi to really love it, and they gave me so much creative freedom, so I went in the studio, wrote the song that day, came back and I had my fingers crossed that they would love it, and now it's going to be in a commercial," she adds.

"We Will Rock You (Megan Thee Stallion Version)" is available to stream now. Gladiator II will be in theaters on Nov. 22.