The Metaverse brings together components of parallel processing computing platforms, the digital development of physical systems, cutting-edge machine learning, and virtual identity to uncover a fully digitalized environment with equal properties to the real world. It possesses more rigorous requirements for connection, including safe access and data privacy, which are necessary with the advent of Metaverse technology. Traditional, centralized, and network-centered solutions fail to provide a resilient identity management solution. There are multifaceted security and privacy issues that hinder the secure adoption of this game-changing technology in contemporary cyberspace. Moreover, there is a need to dedicate efforts towards a secure-by-design Metaverse that protects the confidentiality, integrity, and privacy of the personally identifiable information (PII) of users. In this research paper, we propose a logical substitute for established centralized identity management systems in compliance with the complexity of the Metaverse. This research proposes a sustainable Self-Sovereign Identity (SSI), a fully decentralized identity management system to mitigate PII leaks and corresponding cyber threats on all multiverse platforms. The principle of the proposed framework ensures that the users are the only custodians and proprietors of their own identities. In addition, this article provides a comprehensive approach to the implementation of the SSI principles to increase interoperability and trustworthiness in the Metaverse. Finally, the proposed framework is validated using mathematical modeling and proved to be stringent and resilient against modern-day cyber attacks targeting Metaverse platforms.