Why is Eldon's ring called the old man's ring?

Because elderscrolls→ old people roll in circles, elder and elden are like.

Eldon Ring is a dark fantasy ARPG game, developed by From Software and distributed by BandaiNamco.

George Raymond Richard Martin, the author of Fire and Ice, told the media in June, 20021that his work in The Ring of Eldon was completed several years ago, and he was mainly responsible for the design of world buildings and figures. He created a very detailed background setting for FromSoftware, and since then he has never participated in the development of the Eldon method loop.