This chapter considers fundamental concepts of effective virtual teams, illustrated by research on Travian, a massively multiplayer online strategy game wherein players seek to build empires. Team inputs are the resources that enable individuals to work interdependently toward a common goal, including individual and collective capabilities, shared knowledge structures, and leadership style. Team processes, notably coordination and cooperation, transform team inputs to desired collective outcomes. Because the members of virtual teams are geographically dispersed, relying on information and communication technology, three theories are especially relevant for understanding how they can function effectively: social presence theory, media richness theory, and media synchronicity theory. Research in settings like Travian can inform our understanding of structures, processes, and performance of virtual teams. Such research could provide valuable insight into the emergence and persistence of trust and cooperation, as well as the impact of different communication media for coordination and information management in virtual organizations.