Lightly speaking, I am astounded. Finally, a person with an idea I haven't seen in awhile. *slowly claps*
A battle of morals, of identity, of self. I am now quite interested. Although, as mentioned before, I'm still not well aware of how DnD works, rest assured for I have played MMORPGs, thus I know many terms and how such games work.

If by chance you are having trouble with categorizing the information and neatly organizing it, might I suggest the following site: www.weebly.com/
It offers a site creation for free and it is quite nifty, if I do say so myself. Sometimes it can become a bit bothersome, but it's great for gathering all the information needed for a role-play. If you are interested in seeing what a final work on it looks like, feel free to browse around the site I made for a role-play of mine: http://6am-yesterday.weebly.com/
Needless to say, please don't use any of the information written there. 

Sarcor, could you also give me a few notes on character creation? I am thinking of submitting a male ex-hacker with an unfortunate past (or maybe not so unfortunate?). Hopefully, he'll we worthy of your standards when I create his character sheet (it's currently a bit late/half asleep right now, thus I will do it tomorrow).
Also, will there be different species/races in the virtual world or will all the characters be human or something else? If you need ideas for the world creation, I would be glad to help. At the very least, I am a good image and gif finder XD