Blake Griffin -- Space Jams in Venice Beach ... With Jon Favreau (Video)

Blake Griffin could be the next Michael Jordan -- 'cause the guy was throwin' down in Venice Beach with Marvin the Martian on what appeared to be a "Space Jam" themed commercial shoot.

Word on the street ... seriously, the people on the street were telling us ... Blake was on-set with director Jon Favreau to film a new sneaker ad for his new Jordan shoes.

He dunked, he shot around, he signed autographs for kids.