The optional ERC-721 extension standardises notifications about changed metadata. A refreshed image and a change of token owner are separate events.

What the primary record establishes

ERC-4906, created on 13 March 2022 and marked Final, adds MetadataUpdate and BatchMetadataUpdate events to ERC-721. The extension is optional and notifies third-party platforms when token JSON metadata changes. Ethereum EIPs — ERC-4906: EIP-721 Metadata Update Extension, Final ↗

The specification recommends not emitting the update event merely because tokenURI changes when the JSON metadata stays the same. It also defines interface identification through supportsInterface with 0x49064906. Ethereum EIPs — ERC-4906: EIP-721 Metadata Update Extension, Final ↗

What the distinction changes

For an NFT display, a metadata event is a reason to fetch updated descriptive information. It does not itself show that the owner changed, that a sale occurred or that a royalty was paid.

A stale marketplace image can therefore be an indexing problem rather than evidence of a failed transfer. Conversely, a newly displayed image does not prove a recent ownership transaction. The application needs the appropriate records for each claim.

What to check before drawing a conclusion

WFN would retain the contract address, token identifier, event block and metadata content used by the interface. When comparing two displays, check whether they fetched the same version before treating a visual difference as a blockchain discrepancy.

Support for the extension is one compatibility fact. It is not a promise that metadata is immutable, that every platform refreshes immediately or that the asset has a particular market value. Those conclusions require different evidence.