Bluey Bear is a meme-inspired cryptocurrency project featuring Bluey, a character whose identity playfully oscillates between a bear and a cat. The project aims to provide entertainment and potential financial gains for its community. Bluey Bear emphasizes its nature as a meme coin, explicitly stating that it is not a security and does not offer financial advice. The project encourages users to engage with Bluey Bear for amusement, with the possibility of financial benefits being a secondary aspect.