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Taylor Swift blinked first … giving Nicki Minaj a full-on apology in an attempt to squash their Twitter war. There’s hope for world peace, after all.

Taylor tried to dismiss the whole mess, saying … “I thought I was being called out. I missed the point, I misunderstood, then misspoke.”

Swift took the high road, and seemed to accept Nicki’s explanation that her initial Twitter rant about a VMAs snub was not an attack on Taylor … although she never explained who she WAS targeting.

Anyway, Nicki thanked Taylor for the apology … and now everyone can play nice.

First Meek and now Taylor? Nicki’s not just queen of the Barbs.

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