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Yes, you can play Ocarina of Time on a PS3, but , and only on a jailbroken console .
To understand the impossibility of an official release, one must look at the business climate of the late 1990s. "The Legend of Zelda: Ocarina of Time" was released in 1998, a time when the gaming industry was defined by fierce exclusivity. Nintendo and Sony were bitter rivals; the PlayStation brand existed largely because of a failed partnership between Sony and Nintendo to create a CD-ROM add-on for the Super Nintendo. That broken partnership birthed a rivalry that defined the era. "Ocarina of Time" was not merely a game for the Nintendo 64; it was the flagship title designed to sell the console hardware itself. Nintendo’s business model relies on the "hardware-software spiral," where exclusive software drives hardware sales. Therefore, an official port of "Ocarina of Time" to the PlayStation 3 would have been a capitulation of Nintendo’s identity, an impossibility in the corporate world. zelda ocarina of time ps3 pkg