how to reduce video file sizes for long term storage

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I have a few gameplay clips with friends, the total size of the clips are around 500 gb it is a little bit big but it became a nice memory with some lost friends so I want to keep it. but its taking so much space. is there a way to compress the files for the purpose of storing them long term? like compress them and when I might want to revisit them in years I can decompress them etc. I want to reduce the size as much as possible even if it means i can't preview the files and it takes long to compress and decompress them. details: the file types are .mkv the size of the videos vary between 25 gb and 1 gb each

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