I recall seeing this film as a kid and thinking to myself: wow, it's almost like a Zelda movie, yet not. It never crossed my mind that the series could actually be based on this movie. Having read and watched enough Miyamoto interviews I can guarantee that concept of The Legend of Zelda (1986) was based on his childhood memories. If I recall correctly he lived near a forest where he would often times go exploring when he was a kid. He also discovered a huge lake inside the forest which has been portrayed in many Zelda games as Lake Hylia.

He has often revealed his sources for inspiration in interviews and hasn't once mentioned the movie Legend.

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