Once you mint it, it exists forever (unless burned but it still technically exists). The originating contract specifies you as the owner. Other blockchains physically store the NFT in the users wallet (flow for example). You can transfer the NFT to another wallet and you will always be able to query the metadata (if any) that is attached to the NFT. The way you query this metadata is standardized mostly via the OpenZeppelin standard (eth and side chains). Most every NFT on ethereum mainnet or an ethereum side chain such as polygon/matic is implement as either ERC721, ERC1155 or ERC20

Side note: ipfs is mutable and the metadata can be changed at any time