Night fairies have a value - namely an economic value.
The muscle meat of the larvae is considered a delicacy in some places. It is densely fibrous with small spherical cartilages in the middle of the fibers and has a slightly sour taste. The skin of the larva is thick and can be processed into excellent leather. Such leather has a striking structure with many tiny domes and has a particularly noble appearance. The sexual secretion is the most valuable. Various drugs, medicines and poisons can be made from it. Medicines for erectile dysfunction is possible and very potent.
Live larvae are also very valuable. You can have the larvae copy selected sexual pheromones and use them to produce attractants for hunting. The perfume industry is also interested in the larvae. If you isolate the larvae and give them only one dominant smell, they start to produce this one for their secretion. If you only give the larvae certain roses, they will smell more and more like these roses. However, one should not expect highly complex smells and even simple scents of certain plants sometimes only become similar. Nevertheless, it is of course very useful for producing scents easily or capturing them in the first place. The larvae can take on the scent of a person. At the end of the further processing of the secretion, it will then be a part of a perfume or, in exceptions, the base. It would be the perfume of a person. Another use of living larvae is in medicine. If poison is administered to the larvae, it may later be possible to produce an antidote for other living beings with the help of the night fairy.
Despite the economic benefits, larvae or even adult night fairies are rarely kept, as keeping them is illegal in most countries due to their dangerous nature. Nevertheless, even in these countries, both larvae and adult night fairies are traded at high prices on the black market. These specimens are usually mutilated. The teeth are extracted. The secretion glands are resected. The tentacles are amputated. Or they are missing something else. This is the practice. The black marketeers have no reason not to do it. The trade is punished, but the night fairies are euthanized, slaughtered or shot anyway.
Night fairies are very rare because they are hunted with great effort. Many countries are actively trying to eradicate them. In all other countries, attempts are being made to bring them under human control. Night fairies are demons and have no rights, but you shouldn't feel sorry for them because they are demons.
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They are not human.
Even the larvae are life-threatening, but they are nothing compared to a full-grown night fairy. They are often equipped with a wide range of magics. They can often use the basic magics of all elements and have specialized in one or two directions. They have learned some of their magic from their mother. The rest is inherited. This is very rare. Not even all demons inherit their magic. As larvae, night fairies do not yet have the mental capacity to use magic, but it doesn't take long before they do.
Summary of growth: 2 months from fertilization to laying an egg, 6-8 weeks until the larva hatches, up to 3 months until the young night fairy hatches, 2-4 months until the adult night fairy, no more than 2 years from hatching to separation from the mother, no more than 3 years from hatching to complete mental development. - With this timeframe, night fairies are the absolute record holders as far as the speed of development of a living beings of this intelligence is concerned.
The Mercenary Guild rates a full-grown night faerie with a danger rating of 2. Of all the hunter guilds, they have a difficulty rating of 1.
Night fairies are the only beings, apart from Teben, that receive such high ratings from all organizations. The fact that they pass on magic is not even the reason for this.
A living being that knows magics from birth can normally only use the same magics in each generation. However, night faeries can potentially inherit all the magics they are capable of. What is inherited could be pure chance. It is possible for a night fairy to be born with magics that one of her ancestors learned hundreds of years ago. It is also possible that her mother did not know these magics and that they are too complicated for her to even learn. Unfortunately, that's still not the whole story.
A night fairy has red marks on its back, like burnt skin. In the worst case, there are four signs. The signs stand for sigils/call magics for immediate use. Again, which magics they are varies from individual to individual, but in any case they are high magics that the night fairy may not even be fully proficient in herself. The mother has usually spent years of her life preparing these magics, collecting mana for the sigils and possibly also working out application patterns herself. These may be unknown magics that are not listed in any book. Anything that is not used will be passed on to the descendants and further refined and then possibly passed on again. It is not impossible for a single night fairy to raze an entire city to the ground. It has never happened, but only because they are too clever for it.
Night fairies are complex beings of the highest order. All knowledge about them could be completely obsolete in a few centuries.