Authenticator App typically implement their services using the Time-based One-time Password Algorithm (TOTP) and HMAC-based One-Time Password Algorithm (HOTP)
Authenticator App Often is on a Mobile Device
Many Authenticator Apps are generated using open standards developed by the Initiative for Open Authentication (OATH) (which is unrelated to OAuth).
Some implementations:
Some Authenticator Apps use services using the Time-based One-time Password Algorithm (TOTP) and/or HMAC-based One-Time Password Algorithm HMAC which only depends on a time factor and does not require a seed.
The QR-code remains valid and usable; nothing will make it stop working. This actually makes it very dangerous to leak the QR-code. If an attacker sees it, even years after you use it the first time, they can set up their own TOTP (Authenticator) Application to use your QR-code, and it will generate the same tokens yours does, which can potentially help the attacker hijack whatever account the TOTP code is protecting. If you are protecting something sensitive, you should generate a new code (this can usually be done by turning 2FA off, and then on again). Then, even if anybody got the old QR-code, it won't do them any good.