Beyond the record budget, a fresh wrinkle has emerged about what the Elden Ring movie actually is.

Eurogamer reports that Alex Garland's adaptation is, at least partially, a prequel to FromSoftware's 2022 RPG — a framing that could explain why set footage shows human soldiers patrolling castle walls before any Tarnished arrive.

The film is based on the mythological story by Game of Thrones author George R. R. Martin and FromSoftware's Hidetaka Miyazaki, set in a realm called the Lands Between where a shattered Elden Ring has plunged the world into war and chaos.

Eurogamer reports the film is being shot for IMAX, an unusually grand format for a studio built on intimate arthouse releases.

Over the summer, a leak showed the real set at Conwy Castle in North Wales, with familiar-looking human soldiers guarding and patrolling the walls and towers — a location North Wales Pioneer had teased back in April as a shooting site.

Eurogamer also notes that set videos suggest even low-level enemies will appear, and that fans are already expecting a rather faithful adaptation after spotting Dung Eater among the castings.

The Wall Street Journal reported on October 23 that, according to people familiar with the matter, the film costs nearly $200 million — far beyond anything A24 has attempted.

Polygon notes the studio's previous record was Marty Supreme at around $70 million, with Garland's Civil War at $50 million, and calls Elden Ring A24's first true blockbuster.

Eurogamer points out earlier reports in April put the budget at only "well over" $100 million, meaning the figure may have ballooned during production. IGN notes that at this level it sits alongside Marvel productions like Spider-Man: No Way Home.

The Wall Street Journal report, as summarized by Polygon, frames the film as part of A24's strategy to stay independent while it grows — the outlet reports the studio is now worth over $3.5 billion.

Yahoo adds that the gamble may be safer than it looks: analyst Rhys Elliott reportedly puts the game at over 36 million copies sold and more than $2 billion in revenue, name awareness that could carry the film at the box office.

Dark Horizons, by contrast, cites a figure of more than 30 million copies, so the exact sales count varies by outlet.

Dark Horizons reports filming ran a tight four months, from April to July this year, and calls the gap to release — March 3, 2028 — a surprisingly long post-production window where much of the budget will likely go.

IGN confirms filming wrapped in July and says early production photos teased faithful recreations of iconic sets.

The cast is deep: Dark Horizons lists Kit Connor, Ben Whishaw, Cailee Spaeny, Nick Offerman, Tom Burke, Havana Rose Liu, Sonoya Mizuno, Jonathan Pryce, and Peter Serafinowicz, among others, with Yahoo adding that George R. R. Martin is on board as a producer.

IGN cautions that fans should expect a wait, saying it will probably be a while longer before official images or a trailer appear, given the March 3, 2028 release date.

The pipeline around it is getting crowded: Polygon reports 2028 will also bring a Helldivers movie from Sony Pictures and a Call of Duty movie from Skydance, making it a banner year for video game adaptations.

Whether an A24-flavored blockbuster can break through — possibly, as Polygon speculates, even at awards season — remains the open question the whole story now turns on.