The current article explores patterns of identity development in virtual worlds, with the aim of introducing a conceptual model of virtual identity. Despite the rapid spread of virtual environments, no model has been developed to date that fully captures this complex entity. Rather than taking a purely social approach, as has been the dominant trend in most prior work, the structural elements used in this current framework incorporate several dimensions and approaches identity as a conglomerate of personal, social, relational and material aspects. Building on an extensive body of the available literature, with the current conceptual model, we intend to provide a comprehensive base on which to further expand theoretically as well as empirically in future work-related concerning identity in virtual worlds.