The most notable difference between version 1.0 and the following versions is that in version 1.0, if one were to save and reset the game during the final Ganon fight, they would be able to play the game without Link's sword, which in turn would allow them to use any item on Epona. Version 1.1 grey cartridges began to be released in early 1999, in which Nintendo fixed a number of bugs and glitches from the first version. All of the gold cartridge games that came out in November 1998 are version 1.0, and some grey cartridges released soon after are also version 1.0. The game was also released in different software versions.

Additionally, the game's box was made of sturdy plastic instead of cardboard and exhibited the boxed phrase 'Collector's Edition.' Gold carts were the first American release of Ocarina and were only offered in a limited number, making them collector's items. In keeping with the established Zelda tradition, pre-ordered copies of Ocarina of Time on the Nintendo 64 featured 'gold' cartridges. It is important to be specific when referring to the different versions of Ocarina of Time.