The International Astronomical Union (IAU) will supposedly not back a start-up company that is offering the public a chance to name a crater on Mars for as little as $5, according to AustrianTribune.com.

The IAU is not a fan of what Uwingu is doing, and by not supporting the company, the project may be in jeopardy all together.

"In the light of recent events, where the possibility of buying the rights to name exoplanets has been advertised, the International Astronomical Union wishes to inform the public that such schemes have no bearing on the official naming process", the IAU said in a statement.

The IAU added that some businesses may be offering services where they can name craters on the Red Planet, but really such names have no official validity.

The news comes just a day after the naming service went live. It has supposedly been a hit so far, as even Newsweek has named a crater by using Uwingu's site.

The lowest amount it will set you back to name a crater is just $5, according to Uwingu.

Click here to learn more or to buy a crater name yourself.

The project is not a contest, running on a first-come, first-served bases.

Money earned from the project will fund grants in space exploration, education, and research. Profit is expected to reach at least $10 million if people name every crater on the Red Planet.

"This is the first people's map of Mars, where anybody can play," said Uwingu CEO Alan Stern, a former NASA science chief, according to Space.com. "It's a very social thing."

Stern added that he hopes all craters will be named by the end of 2014, which would help "fill in a lot of gaps in Red Planet cartography," according to Space.com.

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