UPDATE: Arby's Buys Pharrell's Hat!

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Pharrell auctioned off his iconic Grammy Awards hat, and it now belongs to a fast-food franchise.

Pharrell Williams' vintage Vivienne Westwood hat -- which quickly became one of the most talked-about  accessories during this year's awards season -- has been auctioned off!

In a partnership with eBay, all proceeds from the sale of the hat went to benefit From One Hand to Another, the singer/producer's educational non-profit organization.

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"I'm giving up the Buffalo Hat I wore to the Grammys to help undeserved kids get the educational tools they need," Pharrell, 40, said in a statement. "Our organization, From One Hand to Another, is committed to bringing kids experiences that ignite their passions, challenge their minds and prepare them for success."

The bidding ended on Oscars Sunday, with the hat going for $44,100. The Happy singer tweeted:

Turns out, Arby's bought the accessory, and broke the news via Twitter:

RELATED: Pharrell's Grammys Hat Becomes Internet Sensation

Those that hate the thought of the stylish star parting with his beloved hat need not worry -- he has plenty of versions of the now iconic accessory, which he's rocked multiple times since the Grammys, including at Sunday night's Oscars.