In response to the transformative impact of digital technology on education, this study introduces a novel performance management framework for virtual learning environments suitable for the metaverse era. Based on the Structural Equation Modeling (SEM) approach, this paper proposes a comprehensive evaluative model, anchored on the integration of the Theory of Planned Behavior (TPB), the Unified Theory of Acceptance and Use of Technology (UTAUT), and the Community of Inquiry Framework (CoI). The model synthesizes five Key Performance Indicators (KPIs)—content delivery, student engagement, metaverse tool utilization, student performance, and adaptability—to intricately assess academic avatar performances in virtual educational settings. This theoretical approach marks a significant stride in understanding and enhancing avatar efficacy in the metaverse environment. It enriches the discourse on performance management in digital education and sets a foundation for future empirical studies. As virtual online environments gain prominence in education and training, this research study establishes the basic principles and highlights the key points for further empirical research in the new era of the metaverse educational environment.