Each bloom lasts for only one day, hence, the common name, daylily.
Daylilies are tough plants that aren't very fussy about where they live. Give them a sunny spot, decent soil and an average amount of water and they will cheerfully bloom. Established plants will send up multiple scapes (blooming stalks) which produce blooms over several weeks. A wide range of forms, colors and heights are available as the daylily is easy to hybridize.
This particular blossom is 'Rozavellian Kraken', hybridized by Brian Mahieu in 2003.