The feud began when KRON4 reporter Henry Wofford mocked Diddy over a video the mogul made saying he wants to buy the Carolina Panthers. Wofford said he couldn't take Diddy seriously because he looked high and drunk.

The very next day, Nipsey told TMZ Sports he was going to find Wofford and "beat yo ass."

Well, Wofford saw the video ... and responded Friday morning with a message to Nipsey:

"I saw you on @TMZ saying you'll beat me down when you see me. Here's your opportunity. I'm old school and only fight for a cause."

"Let's raise money for the Black Community. We can box or go MMA style in a celebrity fight. Hug when it's over. Let me know time and place!"

Nipsy saw the tweet and fired back with a 4-point message:

"1st: I’ll beat yo white washed Samuel L Jackson in DJANGO ass.

2nd: We rejected you from the black community after you COON’d you own people to try to fit in on mainstream TV.

3rd: I don’t hug Uncle Toms.

4th: You ain’t hard enough ... & yo knuckles ain’t scared enough."

Nipsy followed up a few minutes later saying he'll agree to fight Wofford, but there are terms ...

"Make the prize at least 5 mill and I’ll do it in between my album promo ... teach this bitch a lesson and when I knock cuz out he gotta play the story of OJ by Jay Z any time he on air."

Stay tuned ...