The track, called 'Campaign', is the title track from an upcoming mixtape the rapper is preparing to drop.
In an interview with Zane Lowe on Beats 1, Ty revealed the pair made the song on his tourbus during the Purple Reign tour.
"It's the title track off of my new project I'm about to drop," he said. "Me and Future did this on our Purple Reign tour on the bus. He came on my bus and we did a couple of songs, actually, and this is the first one we're dropping. It's lit. I can't wait for the people to hear it."
He explained further about the writing of the song, saying he didn't remember what city they were in when they made it, but they were "parked right outside of the venue".
"[Future] came on and just literally freestyles four or five songs back-to-back-to-back-to-back, and then I did my part right after he left, and we dropping it now. It's lit."