The game features 4 types of in-game currencies not affiliated with its core gameplay: Clues, Fragments, Inspirations, and Echoes.
Inspirations are used for the game's character skin gacha system, and Echoes are obtained through spending real-life money and can purchase most items directly.
Different personas grant different conditional perks in combat, such as highlighting nearby allies for Survivors or shortening attack recovery time for Hunters.
Entertainment game modes, belonging to the Violent Struggle submenu, have their own rules and adjustments and commence on fixed hours during the day.
The player initially assumes the role of Orpheus, an amnesiac detective who, in the case of a missing memory, arrives at the Oletus Manor, the main setting of the game.
Throughout the duration of his stay, Orpheus collects evidence from written records, or "diaries", allowing him to visualize "games" from a participant's perspective.
On October 28, 2021, NetEase released a major expansion pack called "Time of Reunion" that expanded the storyline, particularly Orpheus's past and his involvement in the manor games.
On April 20, 2023, NetEase released Update 2.0, "Ashes of Memory", which changes the main character to Alice DeRoss, a journalist whose investigations lead her to the Oletus Manor.
Identity V has collaborated with video game franchises Danganronpa[5][6] and Persona,[7] the film Edward Scissorhands,[8] and the manga/anime series The Promised Neverland,[9][10] Death Note, Junji Ito's Tomie, Mitsuji Kamata,[11] Bungo Stray Dogs, and Case Closed.