Franco, 35, known for his role in movies like "Spider-Man 3","Milk" and "127 Hours", doesn't take jokes on him being gay as insults, reports femalefirst.co.uk.
"Great! Bring on the gay jokes! Because these aren't insults at all. I don't even care if people think I'm gay, so it was like, 'Awesome!' I mean, I wish I was ... I wish I was gay," Franco told thedailybeast.com.
The actor has revealed that girls, who hated him in college, spread the rumour about his sexuality.
Photos: Aamir Khan with brother Faisal, ex-wife Reena Dutta at MAMI
Photos: Sonakshi Sinha, Sushant Singh Rajput at Mumbai airport
Spotted: Ajay Devgn and Kajol at an event in Mumbai
Birthday special: 21 cricketers who made their Test debut as teenagers
Pics: Prabhas, Tamannaah Bhatia at 'Baahubali 2' first look launch at MAMI