Painting over wood paneling in basement

Hi,

I have recently taken on trying to redo my basement for as cheap as possible. There is this really cheap and old wood paneling that is a light blue/grey color and I would ideally like to paint over it. The room is fairly large though so do I have to prime and fill in all of the groove in between each of the panels to achieve a decent outcome? I have no experience painting wood paneling, just regular walls.

submitted by /u/enflurane
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