It has likely had a hardware failure. A blinking folder with a question mark in it means the computer cannot find the startup volume. That means the computer's hard drive has likely failed. In short, it is likely to time to replace the computer. If it is older than a 2015, then it is definitely time to replace it!
When you get a new Mac you can migrate your data assuming you were backing up the old computer with Time Machine. If you have a Time Machine backup of the old Mac, please follow the steps in Setup Assistant and Migration Assistant. If you were not backing up the computer then all your data and apps are history.