Nano-light-emitting diodes (NLEDs) have attracted considerable attention due to their unique advantages and significant potential for emerging near-eye display technologies. Nevertheless, progress in NLED applications is slowed down by challenges, including complex fabrication procedures and complicated driving schemes. In this study, single-contact nano-LED (SC-NLED) utilizing alternating current (AC) driven technology was proposed and demonstrated. In comparison, SC-NLED markedly simplifies the fabrication process by a single alignment-free photolithography step while maintaining good device performance. We conducted a detailed analysis of the electro-optical characteristics of SC-NLED and developed a physical model to describe its operational behavior, thereby elucidating the fundamental mechanisms at different operational stages. Furthermore, the mechanisms and characteristics associated with luminescence modulation in SC-NLED were investigated, and several strategies for efficiency enhancement were proposed. This research provides a theoretical and practical prototype for SC-NLED display applications, thereby paving the way toward NLED-based display technologies.