Will Smith had a big night at the 94th Academy Awards, culminating in him receiving his first Oscar for his work in "King Richard." However, before winning, Smith smacked Chris Rock in the face after an ill-mannered joke about Jada Pinkett Smith's hair.

Despite Rock's decision not to seek charges against Smith, their spat could have long-term ramifications for Smith. After the event, the Academy posted a statement on Twitter condemning "violence of any form," and they issued another statement on Monday regarding how they intend to handle the matter.

The Academy will conduct an official examination of Smith's actions and "will explore further action and consequences,” according to the statement. It's unclear what those consequences will be, but they might include Smith being barred from future events, including the 2023 Oscars, or stripping him of his Academy membership.

Many people have demanded that Smith's Oscar be revoked, but the Academy is hesitant to do so, with Academy Governor Whoopi Goldberg saying, "We're not going to take that Oscar from him." All we can do now is wait and see how the Academy responds to this highly divisive affair.