The D.C. rapper addressed the allegation for the first time while he was on Akademiks' Spotify podcast, 'Off The Record' ... he denied doing it, and shot holes in her account of what happened on set.

Shy said, as an artist, he simply doesn't have any responsibilities on a music video set and therefore, wouldn't have been in a position to interact with Sky the way she described the shoot going down last year.

It might have been best for him to stop there, but Shy added ... he's too much of a player to get caught up and didn't feel the need to react to "false allegations."

Calling yourself a "player" is probably not the best choice in this situation, but Shy says fans haven't heard of any previous sexual misconduct allegations against him so he claims Sky's claim can't be true.