T.I. Fires Off Blistering 50 Cent Diss Track ... Listen!!!

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T.I. is dragging his beef with 50 Cent straight into the studio -- and TMZ’s got the first listen to the diss track.

Hit play on this ... because T.I. ain't playing nice, calling 50 a "5-0 dispatcher" -- basically branding him a snitch -- and clowns him as a keyboard warrior who’s tough online but nowhere else.

Then it really gets spicy. T.I. raps he’s got "he has paperwork from n**** in prison ya name is in em" ... a bombshell claim that goes straight at 50’s gangster brand. That’s not light shade ... that’s nuclear!

Maino Beefing With 50 Is GREAT for Business LET'S RAP ABOUT IT!!!

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HIT MY LINE IF YOU'RE REALLY 'BOUT IT!!!

50 Cent is currently surveying the square footage of the building where Maino and his rap pack podcast at -- but the "Hustle Hard" artist is telling TMZ Hip Hop, break out the contracts!!!

We caught up with Maino out in Jersey on Wednesday, just a few hours removed from his viral dust-up with 50 Cent, where the G-Unit soldier threatened to have his operations shut down!!!

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ICYMI, Maino, Jim Jones, Fabolous, and Dave East have a podcast named "Let's Rap About It" -- and they gave 50's documentary on Diddy at least 4 thumbs down, calling it more of a "mockumentary" for what they called an exploitation of Sean Combs.