They’re basically a digital image of the game, and emulators play them. ROMs are created by copying the files from a cartridge or CD using special software. It’s the reason we’re seeing more and more N64 Gameboy handhelds and other portable retropie handhelds arriving on virtual shelves and in modding shops the world over. More and more people are looking to rip their favourite games to play on the go.
Still, J.K Rowling’s lawyers said I have to go into greater detail to avoid any confusion, so here goes. That’s the nerd’s guide to emulation right there, and I think it sums it up pretty well.