diff --git a/CHANGELOG.md b/CHANGELOG.md
index db6d61a1..82b40625 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [11.1.0]
+### Added
+- Add warning for callers of `wallet_watchAsset` with ERC721 and ERC1155 token types, that support is currently considered experimental ([#264](https://github.com/MetaMask/providers/pull/264))
+
 ## [11.0.0]
 ### Changed
 - **BREAKING**: Minimum Node.js version 16 ([#254](https://github.com/MetaMask/providers/pull/254))
@@ -220,7 +224,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   added deprecation warnings for them ([#30](https://github.com/MetaMask/providers/pull/30))
 - Un-deprecated `sendAsync` ([#29](https://github.com/MetaMask/providers/pull/29))
 
-[Unreleased]: https://github.com/MetaMask/providers/compare/v11.0.0...HEAD
+[Unreleased]: https://github.com/MetaMask/providers/compare/v11.1.0...HEAD
+[11.1.0]: https://github.com/MetaMask/providers/compare/v11.0.0...v11.1.0
 [11.0.0]: https://github.com/MetaMask/providers/compare/v10.2.1...v11.0.0
 [10.2.1]: https://github.com/MetaMask/providers/compare/v10.2.0...v10.2.1
 [10.2.0]: https://github.com/MetaMask/providers/compare/v10.1.0...v10.2.0
diff --git a/jest.config.js b/jest.config.js
index aed0590e..586a33ef 100644
--- a/jest.config.js
+++ b/jest.config.js
@@ -45,10 +45,10 @@ const baseConfig = {
   // An object that configures minimum threshold enforcement for coverage results
   coverageThreshold: {
     global: {
-      branches: 63.07,
-      functions: 64.13,
-      lines: 65.77,
-      statements: 65.87,
+      branches: 64.25,
+      functions: 64.89,
+      lines: 66.35,
+      statements: 66.43,
     },
   },
 
diff --git a/package.json b/package.json
index 5eaa6f25..516a976d 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@metamask/providers",
-  "version": "11.0.0",
+  "version": "11.1.0",
   "description": "A JavaScript Ethereum provider that connects to the wallet over a stream.",
   "keywords": [
     "MetaMask",
diff --git a/src/constants.ts b/src/constants.ts
new file mode 100644
index 00000000..b80c0dcd
--- /dev/null
+++ b/src/constants.ts
@@ -0,0 +1,4 @@
+// TOKEN STANDARDS
+export const ERC721 = 'ERC721';
+export const ERC1155 = 'ERC1155';
+export const ERC20 = 'ERC20';
diff --git a/src/messages.ts b/src/messages.ts
index 5eebff76..ca5c4bb0 100644
--- a/src/messages.ts
+++ b/src/messages.ts
@@ -37,6 +37,7 @@ const messages = {
     rpc: {
       ethDecryptDeprecation: `MetaMask: The RPC method 'eth_decrypt' is deprecated and may be removed in the future.\nFor more information, see: https://medium.com/metamask/metamask-api-method-deprecation-2b0564a84686`,
       ethGetEncryptionPublicKeyDeprecation: `MetaMask: The RPC method 'eth_getEncryptionPublicKey' is deprecated and may be removed in the future.\nFor more information, see: https://medium.com/metamask/metamask-api-method-deprecation-2b0564a84686`,
+      walletWatchAssetNFTExperimental: `MetaMask: The RPC method 'wallet_watchAsset' is experimental for ERC721/ERC1155 assets and may change in the future.\nFor more information, see: https://github.com/MetaMask/metamask-improvement-proposals/blob/main/MIPs/mip-1.md and https://github.com/MetaMask/metamask-improvement-proposals/blob/main/PROCESS-GUIDE.md#proposal-lifecycle`,
     },
     // misc
     experimentalMethods: `MetaMask: 'ethereum._metamask' exposes non-standard, experimental methods. They may be removed or changed without warning.`,
diff --git a/src/middleware/createRpcWarningMiddleware.test.ts b/src/middleware/createRpcWarningMiddleware.test.ts
index ea7e96fa..4e638515 100644
--- a/src/middleware/createRpcWarningMiddleware.test.ts
+++ b/src/middleware/createRpcWarningMiddleware.test.ts
@@ -3,90 +3,123 @@ import { JsonRpcEngine, JsonRpcFailure, JsonRpcSuccess } from 'json-rpc-engine';
 import { createRpcWarningMiddleware } from './createRpcWarningMiddleware';
 import messages from '../messages';
 
-const warnings = [
+const affected = [
   {
+    scenario: 'eth_decrypt',
     method: 'eth_decrypt',
     warning: messages.warnings.rpc.ethDecryptDeprecation,
   },
   {
+    scenario: 'eth_getEncryptionPublicKey',
     method: 'eth_getEncryptionPublicKey',
     warning: messages.warnings.rpc.ethGetEncryptionPublicKeyDeprecation,
   },
+  {
+    scenario: 'wallet_watchAsset with `type: "ERC721"`',
+    method: 'wallet_watchAsset',
+    params: {
+      type: 'ERC721',
+      options: {},
+    },
+    warning: messages.warnings.rpc.walletWatchAssetNFTExperimental,
+  },
+  {
+    scenario: 'wallet_watchAsset with `type: "ERC1155"`',
+    method: 'wallet_watchAsset',
+    params: {
+      type: 'ERC1155',
+      options: {},
+    },
+    warning: messages.warnings.rpc.walletWatchAssetNFTExperimental,
+  },
+];
+
+const unaffected = [
+  {
+    scenario: 'eth_chainId',
+    method: 'eth_chainId',
+  },
+  {
+    scenario: 'wallet_watchAsset with `type: "ERC20"`',
+    method: 'wallet_watchAsset',
+    params: {
+      type: 'ERC20',
+      options: {},
+    },
+  },
 ];
 
 describe('createRpcWarningMiddleware', () => {
-  for (const { method, warning } of warnings) {
-    describe(`${method}`, () => {
-      it('should warn the first time the method is called', async () => {
-        const consoleWarnSpy = jest.spyOn(globalThis.console, 'warn');
-        const middleware = createRpcWarningMiddleware(globalThis.console);
-        const engine = new JsonRpcEngine();
-        engine.push(middleware);
-
-        await engine.handle({ jsonrpc: '2.0', id: 1, method });
-
-        expect(consoleWarnSpy).toHaveBeenCalledWith(warning);
-        expect(consoleWarnSpy).toHaveBeenCalledTimes(1);
-      });
+  describe.each(affected)('$scenario', ({ method, params = {}, warning }) => {
+    it('should warn the first time the method is called', async () => {
+      const consoleWarnSpy = jest.spyOn(globalThis.console, 'warn');
+      const middleware = createRpcWarningMiddleware(globalThis.console);
+      const engine = new JsonRpcEngine();
+      engine.push(middleware);
 
-      it('should not warn the second time the method is called', async () => {
-        const consoleWarnSpy = jest.spyOn(globalThis.console, 'warn');
-        const middleware = createRpcWarningMiddleware(globalThis.console);
-        const engine = new JsonRpcEngine();
-        engine.push(middleware);
+      await engine.handle({ jsonrpc: '2.0', id: 1, method, params });
 
-        await engine.handle({ jsonrpc: '2.0', id: 1, method });
-        await engine.handle({ jsonrpc: '2.0', id: 1, method });
+      expect(consoleWarnSpy).toHaveBeenCalledWith(warning);
+      expect(consoleWarnSpy).toHaveBeenCalledTimes(1);
+    });
 
-        expect(consoleWarnSpy).toHaveBeenCalledWith(warning);
-        expect(consoleWarnSpy).toHaveBeenCalledTimes(1);
-      });
+    it('should not warn the second time the method is called', async () => {
+      const consoleWarnSpy = jest.spyOn(globalThis.console, 'warn');
+      const middleware = createRpcWarningMiddleware(globalThis.console);
+      const engine = new JsonRpcEngine();
+      engine.push(middleware);
 
-      it('should allow the method to succeed', async () => {
-        const middleware = createRpcWarningMiddleware(globalThis.console);
-        const engine = new JsonRpcEngine();
-        engine.push(middleware);
-        engine.push((_req, res, _next, end) => {
-          res.result = 'success!';
-          end();
-        });
-
-        const response = (await engine.handle({
-          jsonrpc: '2.0',
-          id: 1,
-          method,
-        })) as JsonRpcSuccess<unknown>;
-
-        expect(response.result).toBe('success!');
+      await engine.handle({ jsonrpc: '2.0', id: 1, method, params });
+      await engine.handle({ jsonrpc: '2.0', id: 1, method, params });
+
+      expect(consoleWarnSpy).toHaveBeenCalledWith(warning);
+      expect(consoleWarnSpy).toHaveBeenCalledTimes(1);
+    });
+
+    it('should allow the method to succeed', async () => {
+      const middleware = createRpcWarningMiddleware(globalThis.console);
+      const engine = new JsonRpcEngine();
+      engine.push(middleware);
+      engine.push((_req, res, _next, end) => {
+        res.result = 'success!';
+        end();
       });
 
-      it('should allow the method to fail', async () => {
-        const middleware = createRpcWarningMiddleware(globalThis.console);
-        const engine = new JsonRpcEngine();
-        engine.push(middleware);
-        engine.push(() => {
-          throw new Error('Failure!');
-        });
-
-        const result = (await engine.handle({
-          jsonrpc: '2.0',
-          id: 1,
-          method,
-        })) as JsonRpcFailure;
-
-        expect(result.error.message).toBe('Failure!');
+      const response = (await engine.handle({
+        jsonrpc: '2.0',
+        id: 1,
+        method,
+      })) as JsonRpcSuccess<unknown>;
+
+      expect(response.result).toBe('success!');
+    });
+
+    it('should allow the method to fail', async () => {
+      const middleware = createRpcWarningMiddleware(globalThis.console);
+      const engine = new JsonRpcEngine();
+      engine.push(middleware);
+      engine.push(() => {
+        throw new Error('Failure!');
       });
+
+      const result = (await engine.handle({
+        jsonrpc: '2.0',
+        id: 1,
+        method,
+      })) as JsonRpcFailure;
+
+      expect(result.error.message).toBe('Failure!');
     });
-  }
+  });
 
-  describe('unaffected method', () => {
+  describe.each(unaffected)('$scenario', ({ method, params = {} }) => {
     it('should not issue a warning', async () => {
       const consoleWarnSpy = jest.spyOn(globalThis.console, 'warn');
       const middleware = createRpcWarningMiddleware(globalThis.console);
       const engine = new JsonRpcEngine();
       engine.push(middleware);
 
-      await engine.handle({ jsonrpc: '2.0', id: 1, method: 'eth_chainId' });
+      await engine.handle({ jsonrpc: '2.0', id: 1, method, params });
 
       expect(consoleWarnSpy).not.toHaveBeenCalled();
     });
@@ -103,7 +136,8 @@ describe('createRpcWarningMiddleware', () => {
       const response = (await engine.handle({
         jsonrpc: '2.0',
         id: 1,
-        method: 'eth_chainId',
+        method,
+        params,
       })) as JsonRpcSuccess<unknown>;
 
       expect(response.result).toBe('success!');
@@ -120,7 +154,8 @@ describe('createRpcWarningMiddleware', () => {
       const result = (await engine.handle({
         jsonrpc: '2.0',
         id: 1,
-        method: 'eth_chainId',
+        method,
+        params,
       })) as JsonRpcFailure;
 
       expect(result.error.message).toBe('Failure!');
diff --git a/src/middleware/createRpcWarningMiddleware.ts b/src/middleware/createRpcWarningMiddleware.ts
index c3f3071f..be57d293 100644
--- a/src/middleware/createRpcWarningMiddleware.ts
+++ b/src/middleware/createRpcWarningMiddleware.ts
@@ -1,5 +1,6 @@
-import type { JsonRpcMiddleware } from 'json-rpc-engine';
+import type { JsonRpcMiddleware, JsonRpcRequest } from 'json-rpc-engine';
 
+import { ERC1155, ERC721 } from '../constants';
 import messages from '../messages';
 import type { ConsoleLike } from '../utils';
 
@@ -15,6 +16,7 @@ export function createRpcWarningMiddleware(
   const sentWarnings = {
     ethDecryptDeprecation: false,
     ethGetEncryptionPublicKeyDeprecation: false,
+    walletWatchAssetNFTExperimental: false,
   };
 
   return (req, _res, next) => {
@@ -27,6 +29,15 @@ export function createRpcWarningMiddleware(
     ) {
       log.warn(messages.warnings.rpc.ethGetEncryptionPublicKeyDeprecation);
       sentWarnings.ethGetEncryptionPublicKeyDeprecation = true;
+    } else if (
+      !sentWarnings.walletWatchAssetNFTExperimental &&
+      req.method === 'wallet_watchAsset' &&
+      [ERC721, ERC1155].includes(
+        (req as JsonRpcRequest<{ type: string }>).params?.type || '',
+      )
+    ) {
+      log.warn(messages.warnings.rpc.walletWatchAssetNFTExperimental);
+      sentWarnings.walletWatchAssetNFTExperimental = true;
     }
     next();
   };