Diddy & Drake Beef Dead & Buried

Diddy showed up on Drake's turf ... sitting in the crowd at one of his concerts, and proving the two have truly waved the white flag in their feud.

Diddy had one of the best seats in the house at Drake and Future's Summer 16 stop in Greensboro, NC. He didn't get up onstage, but just being in the audience is a huge step.

Drizzy and Diddy famously threw down in 2014 outside LIV nightclub in Miami -- the climax of their beef over the track, "0 to 100/ The Catch Up." As we reported, they eventually settled the matter man-to-man ... over the phone.

Drake's been playing the track in his sets, so Diddy was probably treated to the live version.

#nohardfeelings