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The metaverse-a blend of the words »meta« (meaning beyond) and »universe«-has gained significant attention with Facebook's rebranding as Meta in 2021. It has sparked visions of a future where the digital and physical worlds seamlessly merge. Yet, alongside this promise, the metaverse has also raised serious privacy concerns. New and increasingly invasive technologies enable the collection of unprecedented forms of data, including eye tracking, body and head movements, and environmental scans. The metaverse introduces new data types that have not been collected before, creating a comprehensive digital reflection of users' physical and digital behaviors. Aggregating this novel data with existing forms of personal information further increases privacy risks and significantly deepens the scope of knowledge that can be derived from users.This dissertation explores the privacy risks posed by the metaverse and offers strategies to address them from the perspectives of three key stakeholder groups: users, companies, and legal institutions. Through qualitative and quantitative research, it investigates how these stakeholders experience and respond to new privacy challenges, the dynamics that emerge between them, and measures to mitigate the risks. It takes a multi-level approach, considering impacts that range from societal implications to individual privacy decisions. By identifying today's privacy risks, this dissertation contributes to a deeper understanding of privacy in virtual environments and helps shape a future where the privacy interests of all stakeholders are respected. It bridges the gap between current challenges and future developments, offering a timely exploration of privacy in the evolving digital landscape.