What is the difference between World Championship and FIDE World Cup?

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Avatar of Quisnulla

It got me really confused.

Being the world champions means winning World Championship.

So what is FIDE World Cup for? If Magnus loses it but wins Championship, he plays in Candidates to challenge himself?

Why do they make two such tournaments? Isn't Norway Chess, Tata Steel and many more, not enough for FIDE and they need two?