Right-most 24 bits are the Device ID - a unique code given to each device manufactured by that organisation
Some network interfaces allow for their MAC address to be changed
In theory, they’re unique to the network card installed on a device, but the number of device-identifying bits is limited, which means manufacturers do reuse them. Each manufacturer has about 17 million available addresses (16^6), so when it burns a device with a MAC address ending in ff:ff:ff, it starts again at 00:00:00. This approach assumes it is highly unlikely two devices with the same address will end up in the same local network segment.