That's how it's done!
I was pleased to find dozens of examples of nanofict on the Looney Labs website.
Here's one:
The two knights lay bleeding,
having just hacked each other to pieces.
White snow fell, covering their broken bodies.
They each thought proudly of their fight,
then of their loved ones who would never find them,
and all the things they'd given up
for the honor of dying there.
Then, like candles, they were extinguished.
To view more examples,
try this link or
perhaps this one, or maybe
even this one...