diff --git a/components/brave_wallet_ui/common/async/handlers.ts b/components/brave_wallet_ui/common/async/handlers.ts
index c736134db2bf..8e284559462f 100644
--- a/components/brave_wallet_ui/common/async/handlers.ts
+++ b/components/brave_wallet_ui/common/async/handlers.ts
@@ -288,16 +288,7 @@ handler.on(WalletActions.getAllTokensList.getType(), async (store) => {
 })
 
 handler.on(WalletActions.addUserAsset.getType(), async (store: Store, payload: BraveWallet.BlockchainToken) => {
-  const { braveWalletService, jsonRpcService } = getAPIProxy()
-  if (payload.isErc721) {
-    // Get NFTMetadata
-    const result = await jsonRpcService.getERC721Metadata(payload.contractAddress, payload.tokenId, payload.chainId)
-    if (!result.error) {
-      const response = JSON.parse(result.response)
-      payload.logo = response.image || payload.logo
-    }
-  }
-
+  const { braveWalletService } = getAPIProxy()
   const result = await braveWalletService.addUserAsset(payload)
   store.dispatch(WalletActions.addUserAssetError(!result.success))
 })
diff --git a/components/brave_wallet_ui/common/hooks/assets.ts b/components/brave_wallet_ui/common/hooks/assets.ts
index ab10fcfd1676..911f7e3ef834 100644
--- a/components/brave_wallet_ui/common/hooks/assets.ts
+++ b/components/brave_wallet_ui/common/hooks/assets.ts
@@ -20,25 +20,6 @@ import usePricing from './pricing'
 import useBalance from './balance'
 import { useIsMounted } from './useIsMounted'
 import { useLib } from './useLib'
-import { httpifyIpfsUrl } from '../../utils/string-utils'
-
-const assetsLogo = (assets: BraveWallet.BlockchainToken[]) => {
-  return assets.map(token => {
-    let logo = token.logo
-    if (token.logo?.startsWith('ipfs://')) {
-      logo = httpifyIpfsUrl(token.logo)
-    } else if (token.logo?.startsWith('data:image/')) {
-      logo = token.logo
-    } else {
-      logo = `chrome://erc-token-images/${token.logo}`
-    }
-
-    return {
-      ...token,
-      logo
-    } as BraveWallet.BlockchainToken
-  })
-}
 
 export function useAssets () {
   // redux
@@ -73,7 +54,10 @@ export function useAssets () {
   React.useEffect(() => {
     isMounted && getBuyAssets().then(tokens => {
       if (isMounted) {
-        setBuyAssetOptions(assetsLogo(tokens))
+        setBuyAssetOptions(tokens.map(token => ({
+          ...token,
+          logo: `chrome://erc-token-images/${token.logo}`
+        }) as BraveWallet.BlockchainToken))
       }
     }).catch(e => console.error(e))
   }, [])
diff --git a/components/brave_wallet_ui/components/desktop/popup-modals/edit-visible-assets-modal/index.tsx b/components/brave_wallet_ui/components/desktop/popup-modals/edit-visible-assets-modal/index.tsx
index 1299b90ddc45..0b3705ade95d 100644
--- a/components/brave_wallet_ui/components/desktop/popup-modals/edit-visible-assets-modal/index.tsx
+++ b/components/brave_wallet_ui/components/desktop/popup-modals/edit-visible-assets-modal/index.tsx
@@ -559,7 +559,7 @@ const EditVisibleAssetsModal = (props: Props) => {
                   <>
                     {filteredTokenList.slice(0, tokenDisplayAmount).map((token) =>
                       <AssetWatchlistItem
-                        key={`${token.contractAddress}-${token.symbol}-${token.chainId}-${token.tokenId}`}
+                        key={`${token.contractAddress}-${token.symbol}-${token.chainId}`}
                         isCustom={isCustomToken(token)}
                         token={token}
                         networkList={networkList}
diff --git a/components/brave_wallet_ui/components/desktop/portfolio-asset-item/index.tsx b/components/brave_wallet_ui/components/desktop/portfolio-asset-item/index.tsx
index a6359c22c78a..6cbe6cc8d69d 100644
--- a/components/brave_wallet_ui/components/desktop/portfolio-asset-item/index.tsx
+++ b/components/brave_wallet_ui/components/desktop/portfolio-asset-item/index.tsx
@@ -78,8 +78,8 @@ const PortfolioAssetItem = (props: Props) => {
   }, [fiatBalance])
 
   const isLoading = React.useMemo(() => {
-    return formattedAssetBalance === '' && !token.isErc721
-  }, [formattedAssetBalance, token])
+    return formattedAssetBalance === ''
+  }, [formattedAssetBalance])
 
   const tokensNetwork = React.useMemo(() => {
     return getTokensNetwork(networks, token)
@@ -111,7 +111,7 @@ const PortfolioAssetItem = (props: Props) => {
       {token.visible &&
         // Selecting an erc721 token is temp disabled until UI is ready for viewing NFTs
         // or when showing loading skeleton
-        <StyledWrapper disabled={isLoading} onClick={action}>
+        <StyledWrapper disabled={token.isErc721 || isLoading} onClick={action}>
           <NameAndIcon>
             <IconsWrapper>
               {isLoading
diff --git a/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/index.tsx b/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/index.tsx
index a3f542397940..46e10339424e 100644
--- a/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/index.tsx
+++ b/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/index.tsx
@@ -12,16 +12,17 @@ import { useExplorer } from '../../../../../../common/hooks'
 
 // Utils
 import Amount from '../../../../../../utils/amount'
-import { getLocale } from '$web-common/locale'
+import { CurrencySymbols } from '../../../../../../utils/currency-symbols'
+import { getLocale } from '../../../../../../../common/locale'
 
 // Styled Components
 import {
   StyledWrapper,
-  LoadIcon,
-  LoadingOverlay,
   NFTImage,
   DetailColumn,
   TokenName,
+  TokenFiatValue,
+  TokenCryptoValue,
   DetailSectionRow,
   DetailSectionColumn,
   DetailSectionTitle,
@@ -29,6 +30,7 @@ import {
   ProjectDetailRow,
   ProjectDetailName,
   ProjectDetailDescription,
+  ProjectDetailImage,
   ProjectDetailButtonRow,
   ProjectDetailButton,
   ProjectDetailButtonSeperator,
@@ -37,32 +39,28 @@ import {
   ProjectFacebookIcon,
   ProjectDetailIDRow,
   ExplorerIcon,
-  ExplorerButton,
-  NFTImageSkeletonWrapper
+  ExplorerButton
 } from './style'
-import { LoadingSkeleton } from '../../../../../shared'
 
 export interface Props {
-  isLoading: boolean
   selectedAsset: BraveWallet.BlockchainToken
-  nftMetadata: NFTMetadataReturnType | undefined
+  nftMetadata: NFTMetadataReturnType
   defaultCurrencies: DefaultCurrencies
-  selectedNetwork: BraveWallet.NetworkInfo
+  selectedNetwork: BraveWallet.EthereumChain
 }
 
 const NFTDetails = (props: Props) => {
-  const [isImageLoaded, setIsImageLoaded] = React.useState(false)
   const {
-    isLoading,
     selectedAsset,
     nftMetadata,
+    defaultCurrencies,
     selectedNetwork
   } = props
 
   const onClickViewOnBlockExplorer = useExplorer(selectedNetwork)
 
   const onClickWebsite = () => {
-    chrome.tabs.create({ url: nftMetadata?.contractInformation?.website }, () => {
+    chrome.tabs.create({ url: nftMetadata.contractInformation.website }, () => {
       if (chrome.runtime.lastError) {
         console.error('tabs.create failed: ' + chrome.runtime.lastError.message)
       }
@@ -70,7 +68,7 @@ const NFTDetails = (props: Props) => {
   }
 
   const onClickTwitter = () => {
-    chrome.tabs.create({ url: nftMetadata?.contractInformation?.twitter }, () => {
+    chrome.tabs.create({ url: nftMetadata.contractInformation.twitter }, () => {
       if (chrome.runtime.lastError) {
         console.error('tabs.create failed: ' + chrome.runtime.lastError.message)
       }
@@ -78,7 +76,7 @@ const NFTDetails = (props: Props) => {
   }
 
   const onClickFacebook = () => {
-    chrome.tabs.create({ url: nftMetadata?.contractInformation?.facebook }, () => {
+    chrome.tabs.create({ url: nftMetadata.contractInformation.facebook }, () => {
       if (chrome.runtime.lastError) {
         console.error('tabs.create failed: ' + chrome.runtime.lastError.message)
       }
@@ -87,81 +85,61 @@ const NFTDetails = (props: Props) => {
 
   return (
     <StyledWrapper>
-      {isLoading &&
-        <LoadingOverlay isLoading={isLoading}>
-          <LoadIcon />
-        </LoadingOverlay>
-      }
-      {nftMetadata &&
-        <>
-          <NFTImage
-            isLoading={!isImageLoaded}
-            src={nftMetadata.imageURL}
-            onLoad={() => setIsImageLoaded(true)}
-          />
-          {!isImageLoaded &&
-            <LoadingSkeleton wrapper={NFTImageSkeletonWrapper} />
+      <NFTImage src={selectedAsset.logo} />
+      <DetailColumn>
+        <TokenName>
+          {selectedAsset.name} {
+            selectedAsset.tokenId
+              ? '#' + new Amount(selectedAsset.tokenId).toNumber()
+              : ''
           }
-          <DetailColumn>
-            <TokenName>
-              {selectedAsset.name} {
-                selectedAsset.tokenId
-                  ? '#' + new Amount(selectedAsset.tokenId).toNumber()
-                  : ''
-              }
-            </TokenName>
-            {/* TODO: Add floorFiatPrice & floorCryptoPrice when data is available from backend: https://github.com/brave/brave-browser/issues/22627 */}
-            {/* <TokenFiatValue>{CurrencySymbols[defaultCurrencies.fiat]}{nftMetadata.floorFiatPrice}</TokenFiatValue> */}
-            {/* <TokenCryptoValue>{nftMetadata.floorCryptoPrice} {selectedNetwork.symbol}</TokenCryptoValue> */}
-            <DetailSectionRow>
-              <DetailSectionColumn>
-                <DetailSectionTitle>{getLocale('braveWalletNFTDetailBlockchain')}</DetailSectionTitle>
-                <DetailSectionValue>{nftMetadata.chainName}</DetailSectionValue>
-              </DetailSectionColumn>
-              <DetailSectionColumn>
-                <DetailSectionTitle>{getLocale('braveWalletNFTDetailTokenStandard')}</DetailSectionTitle>
-                <DetailSectionValue>{nftMetadata.tokenType}</DetailSectionValue>
-              </DetailSectionColumn>
-              <DetailSectionColumn>
-                <DetailSectionTitle>{getLocale('braveWalletNFTDetailTokenID')}</DetailSectionTitle>
-                <ProjectDetailIDRow>
-                  <DetailSectionValue>
-                    {
-                      selectedAsset.tokenId
-                        ? '#' + new Amount(selectedAsset.tokenId).toNumber()
-                        : ''
-                    }
-                  </DetailSectionValue>
-                  <ExplorerButton onClick={onClickViewOnBlockExplorer('contract', selectedAsset.contractAddress, selectedAsset.tokenId)}>
-                    <ExplorerIcon />
-                  </ExplorerButton>
-                </ProjectDetailIDRow>
-              </DetailSectionColumn>
-            </DetailSectionRow>
-            <ProjectDetailRow>
-              {/* TODO: Add nft logo when data is available from backend: https://github.com/brave/brave-browser/issues/22627 */}
-              {/* <ProjectDetailImage src={nftMetadata.contractInformation.logo} /> */}
-              <ProjectDetailName>{nftMetadata.contractInformation.name}</ProjectDetailName>
-              {nftMetadata.contractInformation.website && nftMetadata.contractInformation.twitter && nftMetadata.contractInformation.facebook &&
-                <ProjectDetailButtonRow>
-                  <ProjectDetailButton onClick={onClickWebsite}>
-                    <ProjectWebsiteIcon/>
-                  </ProjectDetailButton>
-                  <ProjectDetailButtonSeperator/>
-                  <ProjectDetailButton onClick={onClickTwitter}>
-                    <ProjectTwitterIcon/>
-                  </ProjectDetailButton>
-                  <ProjectDetailButtonSeperator/>
-                  <ProjectDetailButton onClick={onClickFacebook}>
-                    <ProjectFacebookIcon/>
-                  </ProjectDetailButton>
-                </ProjectDetailButtonRow>
-              }
-            </ProjectDetailRow>
-            <ProjectDetailDescription>{nftMetadata.contractInformation.description}</ProjectDetailDescription>
-          </DetailColumn>
-        </>
-      }
+        </TokenName>
+        <TokenFiatValue>{CurrencySymbols[defaultCurrencies.fiat]}{nftMetadata.floorFiatPrice}</TokenFiatValue>
+        <TokenCryptoValue>{nftMetadata.floorCryptoPrice} {selectedNetwork.symbol}</TokenCryptoValue>
+        <DetailSectionRow>
+          <DetailSectionColumn>
+            <DetailSectionTitle>{getLocale('braveWalletNFTDetailBlockchain')}</DetailSectionTitle>
+            <DetailSectionValue>{nftMetadata.chainName}</DetailSectionValue>
+          </DetailSectionColumn>
+          <DetailSectionColumn>
+            <DetailSectionTitle>{getLocale('braveWalletNFTDetailTokenStandard')}</DetailSectionTitle>
+            <DetailSectionValue>{nftMetadata.tokenType}</DetailSectionValue>
+          </DetailSectionColumn>
+          <DetailSectionColumn>
+            <DetailSectionTitle>{getLocale('braveWalletNFTDetailTokenID')}</DetailSectionTitle>
+            <ProjectDetailIDRow>
+              <DetailSectionValue>
+                {
+                  selectedAsset.tokenId
+                    ? '#' + new Amount(selectedAsset.tokenId).toNumber()
+                    : ''
+                }
+              </DetailSectionValue>
+              <ExplorerButton onClick={onClickViewOnBlockExplorer('contract', selectedAsset.contractAddress, selectedAsset.tokenId)}>
+                <ExplorerIcon />
+              </ExplorerButton>
+            </ProjectDetailIDRow>
+          </DetailSectionColumn>
+        </DetailSectionRow>
+        <ProjectDetailRow>
+          <ProjectDetailImage src={nftMetadata.contractInformation.logo} />
+          <ProjectDetailName>{nftMetadata.contractInformation.name}</ProjectDetailName>
+          <ProjectDetailButtonRow>
+            <ProjectDetailButton onClick={onClickWebsite}>
+              <ProjectWebsiteIcon />
+            </ProjectDetailButton>
+            <ProjectDetailButtonSeperator />
+            <ProjectDetailButton onClick={onClickTwitter}>
+              <ProjectTwitterIcon />
+            </ProjectDetailButton>
+            <ProjectDetailButtonSeperator />
+            <ProjectDetailButton onClick={onClickFacebook}>
+              <ProjectFacebookIcon />
+            </ProjectDetailButton>
+          </ProjectDetailButtonRow>
+        </ProjectDetailRow>
+        <ProjectDetailDescription>{nftMetadata.contractInformation.description}</ProjectDetailDescription>
+      </DetailColumn>
     </StyledWrapper>
 
   )
diff --git a/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/style.ts b/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/style.ts
index dcc59009b81d..78b7e922c778 100644
--- a/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/style.ts
+++ b/components/brave_wallet_ui/components/desktop/views/portfolio/components/nft-details/style.ts
@@ -3,13 +3,7 @@ import { WalletButton } from '../../../../../shared/style'
 import WebsiteIcon from '../../../../../../assets/svg-icons/website-icon.svg'
 import TwitterIcon from '../../../../../../assets/svg-icons/twitter-icon.svg'
 import FacebookIcon from '../../../../../../assets/svg-icons/facebook-icon.svg'
-import { LoaderIcon, OpenNewIcon } from 'brave-ui/components/icons'
-
-export interface StyleProps {
-  isLoading: boolean
-}
-
-const nftImageDimension = '440px'
+import { OpenNewIcon } from 'brave-ui/components/icons'
 
 export const StyledWrapper = styled.div`
   display: flex;
@@ -17,23 +11,12 @@ export const StyledWrapper = styled.div`
   align-items: flex-start;
   justify-content: flex-start;
   width: 100%;
-  min-height: ${nftImageDimension};
-  margin: 16px 0 50px 0;
-`
-
-export const NFTImage = styled.img<Partial<StyleProps>>`
-  display: ${p => p.isLoading ? 'none' : 'block'};
-  width: ${nftImageDimension};
-  height: ${nftImageDimension};
-  margin-right: 28px;
-  border-radius: 12px;
 `
 
-export const NFTImageSkeletonWrapper = styled.div`
-  min-width: ${nftImageDimension};
-  height: ${nftImageDimension};
-  margin-right: 28px;
-  border-radius: 12px;
+export const NFTImage = styled.img`
+  width: 440px;
+  height: 440px;
+  margin-right: 10px;
 `
 
 export const DetailColumn = styled.div`
@@ -222,22 +205,3 @@ export const ExplorerIcon = styled(OpenNewIcon)`
   height: 14px;
   color: ${(p) => p.theme.color.interactive05};
 `
-
-export const LoadingOverlay = styled.div<Partial<StyleProps>>`
-  display: ${(p) => p.isLoading ? 'flex' : 'none'};
-  flex-direction: column;
-  align-items: center;
-  justify-content: center;
-  width: 100%;
-  height: 440px;
-  position: absolute;
-  z-index: 10;
-  backdrop-filter: blur(5px);
-`
-
-export const LoadIcon = styled(LoaderIcon)`
-  color: ${p => p.theme.color.interactive08};
-  height: 70px;
-  width: 70px;
-  opacity: .4;
-`
diff --git a/components/brave_wallet_ui/components/desktop/views/portfolio/index.tsx b/components/brave_wallet_ui/components/desktop/views/portfolio/index.tsx
index 0bdc18de4e33..75d15da58f47 100644
--- a/components/brave_wallet_ui/components/desktop/views/portfolio/index.tsx
+++ b/components/brave_wallet_ui/components/desktop/views/portfolio/index.tsx
@@ -32,7 +32,7 @@ import {
   WithHideBalancePlaceholder
 } from '../../'
 
-import NFTDetails from './components/nft-details'
+// import NFTDetails from './components/nft-details'
 import TokenLists from './components/token-lists'
 import AccountsAndTransactionsList from './components/accounts-and-transctions-list'
 
@@ -87,6 +87,7 @@ const Portfolio = (props: Props) => {
   const history = useHistory()
 
   // redux
+  const dispatch = useDispatch()
   const {
     defaultCurrencies,
     addUserAssetError,
@@ -203,8 +204,6 @@ const Portfolio = (props: Props) => {
 
   // more custom hooks
   const parseTransaction = useTransactionParser(selectedAssetsNetwork, accounts, transactionSpotPrices, userVisibleTokensInfo)
-  const { isFetchingNFTMetadata, nftMetadata } = useSelector((state: { page: PageState }) => state.page)
-  const dispatch = useDispatch()
 
   // memos / computed
 
@@ -305,9 +304,6 @@ const Portfolio = (props: Props) => {
 
   const goBack = () => {
     selectAsset(undefined)
-    if (nftMetadata) {
-      dispatch(WalletPageActions.updateNFTMetadata(undefined))
-    }
     setfilteredAssetList(userAssetList)
     toggleNav()
   }
@@ -426,15 +422,15 @@ const Portfolio = (props: Props) => {
         />
       }
 
-      {selectedAsset?.isErc721 &&
+      {/* Temp Commented out until we have an API to get NFT MetaData */}
+      {/* {selectedAsset?.isErc721 &&
         <NFTDetails
-          isLoading={isFetchingNFTMetadata}
           selectedAsset={selectedAsset}
-          nftMetadata={nftMetadata}
+          nftMetadata={}
           defaultCurrencies={defaultCurrencies}
           selectedNetwork={selectedNetwork}
         />
-      }
+      } */}
 
       <AccountsAndTransactionsList
         formattedFullAssetBalance={formattedFullAssetBalance}
diff --git a/components/brave_wallet_ui/components/shared/create-placeholder-icon/index.tsx b/components/brave_wallet_ui/components/shared/create-placeholder-icon/index.tsx
index 51634228fe50..735e59677cba 100644
--- a/components/brave_wallet_ui/components/shared/create-placeholder-icon/index.tsx
+++ b/components/brave_wallet_ui/components/shared/create-placeholder-icon/index.tsx
@@ -5,7 +5,7 @@ import { background } from 'ethereum-blockies'
 import { BraveWallet } from '../../../constants/types'
 
 // Utils
-import { stripERC20TokenImageURL, isRemoteImageURL, isValidIconExtension, httpifyIpfsUrl } from '../../../utils/string-utils'
+import { stripERC20TokenImageURL, isRemoteImageURL, isValidIconExtension } from '../../../utils/string-utils'
 
 // Styled components
 import { IconWrapper, PlaceholderText } from './style'
@@ -55,7 +55,8 @@ function withPlaceholderIcon (WrappedComponent: React.ComponentType<any>, config
 
     const isValidIcon = React.useMemo(() => {
       if (isRemoteURL || isDataURL) {
-        return tokenImageURL?.includes('data:image/') ? true : isValidIconExtension(new URL(asset.logo).pathname)
+        const url = new URL(asset.logo)
+        return isValidIconExtension(url.pathname)
       }
       if (isStorybook) {
         return true
@@ -75,7 +76,7 @@ function withPlaceholderIcon (WrappedComponent: React.ComponentType<any>, config
 
     const remoteImage = React.useMemo(() => {
       if (isRemoteURL) {
-        return httpifyIpfsUrl(tokenImageURL)
+        return `chrome://image?${tokenImageURL}`
       }
       return ''
     }, [tokenImageURL])
diff --git a/components/brave_wallet_ui/constants/types.ts b/components/brave_wallet_ui/constants/types.ts
index ade32b8fbec6..204b59830afd 100644
--- a/components/brave_wallet_ui/constants/types.ts
+++ b/components/brave_wallet_ui/constants/types.ts
@@ -251,8 +251,6 @@ export interface PageState {
   invalidMnemonic: boolean
   selectedTimeline: BraveWallet.AssetPriceTimeframe
   selectedAsset: BraveWallet.BlockchainToken | undefined
-  isFetchingNFTMetadata: boolean
-  nftMetadata: NFTMetadataReturnType | undefined
   selectedAssetFiatPrice: BraveWallet.AssetPrice | undefined
   selectedAssetCryptoPrice: BraveWallet.AssetPrice | undefined
   selectedAssetPriceHistory: GetPriceHistoryReturnInfo[]
@@ -590,7 +588,11 @@ export interface CreateAccountOptionsType {
   icon: string
 }
 
+// This is mostly speculative
+// will likely change once we have an api for getting
+// nft metadata
 export interface NFTMetadataReturnType {
+  chain: string
   chainName: string
   tokenType: string
   tokenID: string
diff --git a/components/brave_wallet_ui/page/actions/wallet_page_actions.ts b/components/brave_wallet_ui/page/actions/wallet_page_actions.ts
index 175eabef4e03..4b7a30058be1 100644
--- a/components/brave_wallet_ui/page/actions/wallet_page_actions.ts
+++ b/components/brave_wallet_ui/page/actions/wallet_page_actions.ts
@@ -24,7 +24,6 @@ import {
 } from '../constants/action_types'
 import {
   BraveWallet,
-  NFTMetadataReturnType,
   UpdateAccountNamePayloadType
 } from '../../constants/types'
 
@@ -61,6 +60,3 @@ export const setMetaMaskInitialized = createAction<boolean>('setMetaMaskInitiali
 export const importFromCryptoWallets = createAction<ImportFromExternalWalletPayloadType>('importFromCryptoWallets')
 export const importFromMetaMask = createAction<ImportFromExternalWalletPayloadType>('importFromMetaMask')
 export const openWalletSettings = createAction('openWalletSettings')
-export const getNFTMetadata = createAction<BraveWallet.BlockchainToken>('getNFTMetadata')
-export const setIsFetchingNFTMetadata = createAction<boolean>('setIsFetchingNFTMetadata')
-export const updateNFTMetadata = createAction<NFTMetadataReturnType | undefined>('updateNFTMetadata')
diff --git a/components/brave_wallet_ui/page/async/wallet_page_async_handler.ts b/components/brave_wallet_ui/page/async/wallet_page_async_handler.ts
index d57531b1c052..47acaed2f321 100644
--- a/components/brave_wallet_ui/page/async/wallet_page_async_handler.ts
+++ b/components/brave_wallet_ui/page/async/wallet_page_async_handler.ts
@@ -8,7 +8,6 @@ import * as WalletPageActions from '../actions/wallet_page_actions'
 import * as WalletActions from '../../common/actions/wallet_actions'
 import {
   BraveWallet,
-  NFTMetadataReturnType,
   UpdateAccountNamePayloadType,
   WalletState
 } from '../../constants/types'
@@ -32,9 +31,6 @@ import {
 import { NewUnapprovedTxAdded } from '../../common/constants/action_types'
 import { Store } from '../../common/async/types'
 import { getTokenParam } from '../../utils/api-utils'
-import getAPIProxy from '../../common/async/bridge'
-import { getTokensNetwork } from '../../utils/network-utils'
-import { httpifyIpfsUrl } from '../../utils/string-utils'
 
 const handler = new AsyncActionHandler()
 
@@ -95,10 +91,6 @@ handler.on(WalletPageActions.selectAsset.getType(), async (store: Store, payload
     const defaultPrices = await assetRatioService.getPrice([getTokenParam(selectedAsset)], [defaultFiat, defaultCrypto], payload.timeFrame)
     const priceHistory = await assetRatioService.getPriceHistory(getTokenParam(selectedAsset), defaultFiat, payload.timeFrame)
     store.dispatch(WalletPageActions.updatePriceInfo({ priceHistory: priceHistory, defaultFiatPrice: defaultPrices.values[0], defaultCryptoPrice: defaultPrices.values[1], timeFrame: payload.timeFrame }))
-
-    if (payload.asset.isErc721) {
-      store.dispatch(WalletPageActions.getNFTMetadata(payload.asset))
-    }
   } else {
     store.dispatch(WalletPageActions.updatePriceInfo({ priceHistory: undefined, defaultFiatPrice: undefined, defaultCryptoPrice: undefined, timeFrame: payload.timeFrame }))
   }
@@ -233,36 +225,4 @@ handler.on(WalletPageActions.openWalletSettings.getType(), async (store) => {
   })
 })
 
-handler.on(WalletPageActions.getNFTMetadata.getType(), async (store, payload: BraveWallet.BlockchainToken) => {
-  store.dispatch(WalletPageActions.setIsFetchingNFTMetadata(true))
-  const { jsonRpcService } = getAPIProxy()
-  const result = await jsonRpcService.getERC721Metadata(payload.contractAddress, payload.tokenId, payload.chainId)
-
-  if (!result.error) {
-    const response = JSON.parse(result.response)
-    const tokenNetwork = getTokensNetwork(getWalletState(store).networkList, payload)
-    const nftMetadata: NFTMetadataReturnType = {
-      chainName: tokenNetwork.chainName,
-      tokenType: 'ERC721', // getNFTMetadata currently supports only ERC721 standard. When other standards are supported, this value should be dynamic
-      tokenID: payload.tokenId,
-      imageURL: response.image.startsWith('data:image/') ? response.image : httpifyIpfsUrl(response.image),
-      floorFiatPrice: '',
-      floorCryptoPrice: '',
-      contractInformation: {
-        address: payload.contractAddress,
-        name: response.name,
-        description: response.description,
-        website: '',
-        twitter: '',
-        facebook: '',
-        logo: ''
-      }
-    }
-    store.dispatch(WalletPageActions.updateNFTMetadata(nftMetadata))
-  } else {
-    console.error(result.errorMessage)
-  }
-  store.dispatch(WalletPageActions.setIsFetchingNFTMetadata(false))
-})
-
 export default handler.middleware
diff --git a/components/brave_wallet_ui/page/reducers/page_reducer.ts b/components/brave_wallet_ui/page/reducers/page_reducer.ts
index 2d93cd4a8807..78862d2538d6 100644
--- a/components/brave_wallet_ui/page/reducers/page_reducer.ts
+++ b/components/brave_wallet_ui/page/reducers/page_reducer.ts
@@ -8,8 +8,7 @@ import * as Actions from '../actions/wallet_page_actions'
 import {
   BraveWallet,
   PageState,
-  ImportWalletError,
-  NFTMetadataReturnType
+  ImportWalletError
 } from '../../constants/types'
 import {
   WalletCreatedPayloadType,
@@ -27,8 +26,6 @@ const defaultState: PageState = {
   importWalletError: { hasError: false },
   selectedTimeline: BraveWallet.AssetPriceTimeframe.OneDay,
   selectedAsset: undefined,
-  isFetchingNFTMetadata: true,
-  nftMetadata: undefined,
   selectedAssetFiatPrice: undefined,
   selectedAssetCryptoPrice: undefined,
   selectedAssetPriceHistory: [],
@@ -169,21 +166,6 @@ export const createPageReducer = (initialState: PageState) => {
       isMetaMaskInitialized: payload
     }
   })
-
-  reducer.on(Actions.updateNFTMetadata, (state: PageState, payload: NFTMetadataReturnType) => {
-    return {
-      ...state,
-      nftMetadata: payload
-    }
-  })
-
-  reducer.on(Actions.setIsFetchingNFTMetadata, (state: PageState, payload: boolean) => {
-    return {
-      ...state,
-      isFetchingNFTMetadata: payload
-    }
-  })
-
   return reducer
 }
 
diff --git a/components/brave_wallet_ui/stories/mock-data/mock-nft-metadata.ts b/components/brave_wallet_ui/stories/mock-data/mock-nft-metadata.ts
index 9c2f318e6043..3849c20f592e 100644
--- a/components/brave_wallet_ui/stories/mock-data/mock-nft-metadata.ts
+++ b/components/brave_wallet_ui/stories/mock-data/mock-nft-metadata.ts
@@ -4,6 +4,7 @@ import MooncatProjectIcon from '../../assets/png-icons/mooncat-project-icon.png'
 
 export const mockNFTMetadata: NFTMetadataReturnType[] = [
   {
+    chain: '0x1',
     chainName: 'Ethereum',
     tokenType: 'ERC721',
     tokenID: '0x42a5',
diff --git a/components/brave_wallet_ui/stories/mock-data/mock-page-state.ts b/components/brave_wallet_ui/stories/mock-data/mock-page-state.ts
index 099b59065c89..9140f9dd262e 100644
--- a/components/brave_wallet_ui/stories/mock-data/mock-page-state.ts
+++ b/components/brave_wallet_ui/stories/mock-data/mock-page-state.ts
@@ -1,9 +1,6 @@
 import { BraveWallet, PageState } from '../../constants/types'
-import { mockNFTMetadata } from './mock-nft-metadata'
 
 export const mockPageState: PageState = {
-  isFetchingNFTMetadata: false,
-  nftMetadata: mockNFTMetadata[0],
   hasInitialized: false,
   importAccountError: false,
   importWalletError: {
diff --git a/components/brave_wallet_ui/utils/string-utils.ts b/components/brave_wallet_ui/utils/string-utils.ts
index a5b8b47f656e..a742243d2034 100644
--- a/components/brave_wallet_ui/utils/string-utils.ts
+++ b/components/brave_wallet_ui/utils/string-utils.ts
@@ -6,19 +6,7 @@ export const toProperCase = (value: string) =>
     (txt) => txt.charAt(0).toUpperCase() + txt.substr(1).toLowerCase())
 
 export const isRemoteImageURL = (url?: string) =>
-  url?.startsWith('http://') || url?.startsWith('https://') || url?.startsWith('data:image/') || url?.startsWith('ipfs://')
+  url?.startsWith('http://') || url?.startsWith('https://') || url?.startsWith('data:image/')
 
 export const isValidIconExtension = (url?: string) =>
-  url?.endsWith('.jpg') || url?.endsWith('.jpeg') || url?.endsWith('.png') || url?.endsWith('.svg') || url?.endsWith('.gif')
-
-export const httpifyIpfsUrl = (url: string | undefined) => {
-  if (!url) {
-    return ''
-  }
-
-  if (url.startsWith('data:image/')) {
-    return url
-  }
-
-  return `chrome://image/?${url.includes('ipfs://') ? url.replace('ipfs://', 'https://ipfs.io/ipfs/') : url}`
-}
+  url?.endsWith('.jpg') || url?.endsWith('.jpeg') || url?.endsWith('.png') || url?.endsWith('.svg')