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Hey there!
The CDN feature of Spaces would distribute those video files from multiple locations, thus decreasing load times for your users. You could serve those videos directly from the Space rather then fetching it to the server then to the client. Rather then using a API key to access those videos you may be able to configure CORs access for your domain. This could then allow access as needed. If that won’t work for your setup though you would need to use the key and this wouldn’t necessitate the need of the CDN as your server would be pulling the video each time.
Hope it helps! Nate